PYUSD is being used to expand TCS Blockchain's on-chain trade finance services in the freight industry.

CoinFeed reported on March 4th that, according to The Block, transportation trade finance provider TCS Blockchain announced the integration of PayPal USD (PYUSD) to provide same-day financing and on-chain settlement for freight invoices. Truck drivers can exchange invoices for TCS tokens, which can then be converted into the PYUSD stablecoin, thus avoiding the 30-180 day payment terms and over 30% revenue loss associated with traditional factoring companies. The company claims this solution can reduce costs by 90% and projects annual processing volume exceeding $1 billion by 2026.