PayPal elevates crypto to core unit with revenue targets

PayPal elevated crypto to a core business unit. New CEO Enrique Lores set quarterly revenue targets for each of the company's three divisions. The dedicated unit, Payment Services & Crypto, bundles Braintree and merchant services with all crypto operations, including the PYUSD stablecoin.

Lores announced the revenue targets on August 5, after PayPal reported Q2 2026 results that beat analyst estimates. Revenue hit $8.68 billion, above the $8.47 billion consensus. Adjusted earnings per share of $1.38 cleared the $1.28 forecast by nearly 8%.

Lores, who took over from Alex Chriss on March 1, reorganized the company into three divisions on April 29. Checkout Solutions & PayPal handles the core online payments business. Consumer Financial Services & Venmo packages the peer-to-peer app with broader consumer finance. Payment Services & Crypto bundles Braintree and merchant services with crypto operations.

The restructuring gives Lores clearer accountability for each business line. Segmented reporting will let analysts model crypto growth separately. The company raised its full-year profit outlook and targets $400 million in run-rate savings for 2026, with a longer-term goal of cutting $1.5 billion from expenses.

For the crypto industry, the change directly affects PYUSD, the stablecoin PayPal launched in 2023. It now has a dedicated team whose performance depends on driving adoption through Braintree's merchant network. Stablecoin regulation is uncertain across major markets. Block's Cash App has deepened its Bitcoin integration, and Stripe acquired Bridge, a stablecoin infrastructure company.

The divisional structure means quarterly scorecards for crypto revenue. Previous reporting made it difficult to parse how much value crypto generated independently.