PayPal expands PYUSD stablecoin to 70 global markets

PayPal has expanded access to its US dollar stablecoin, PayPal USD, making it available in PayPal accounts across 70 markets worldwide.

Branded as PYUSD, the stablecoin is pegged to the US dollar. PayPal says the expansion will help consumers and merchants move money across borders with faster settlement and lower costs than some traditional payment routes.

May Zabaneh, Senior Vice President and General Manager of Crypto at PayPal, said cross-border payments remain slow and expensive for many users.

"Consumers and businesses around the world are looking for faster, more seamless ways to transact globally, and the current system still charges too much, takes too long, and settles on timelines that were designed for a different era," Zabaneh said.

"We are working to change that. Enabling PYUSD in users' accounts across 70 markets gives people faster access to their funds, lower-cost ways to send money across borders, and a more direct path to participating in the global economy," she added.

In newly supported markets, users can buy, hold, send, and receive PYUSD within their PayPal account. They can also transfer it to other PayPal users and, where supported, to third-party digital wallets.

PYUSD can be withdrawn and converted into local currency for spending. The experience varies by market due to local rules and differences in PayPal's product offerings across countries.

Business use

Merchants that accept PYUSD can receive proceeds in minutes rather than days or weeks, according to PayPal. The company links faster settlement to improved liquidity and reduced reliance on bank settlement cycles that can delay access to funds.

Quicker access to proceeds can improve working capital management and affect how businesses handle cross-border operations, where fees and settlement timelines often vary by region and payment method.

Geographic roll-out

The 70-market availability spans Asia-Pacific, Europe, Latin America, and North America. Markets listed by PayPal include Colombia, Costa Rica, the Dominican Republic, the Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore, the United Kingdom, and the United States.

Not all remaining markets will go live at the same time. PayPal says users in other markets included in the expansion will gain access in the coming weeks.

Some country-specific limitations also apply. In Singapore, PYUSD will be available only to PayPal business account holders, not consumers.

Rewards limits

Eligible users can earn rewards on PYUSD holdings, PayPal said. Rewards are not available to users based in Singapore or the United Kingdom.

Reward rates are not fixed. PayPal says the rate is set by the company, is not guaranteed, and may change over time.

Issuer and reserves

PYUSD is issued by Paxos Trust Company, a fully chartered trust company regulated by the US Office of the Comptroller of the Currency.

PayPal says PYUSD reserves are fully backed by US dollar deposits, US Treasuries, and similar cash equivalents. PYUSD can be bought or sold through PayPal and Venmo at $1.00 per PYUSD, according to the company.

The expansion follows PayPal's launch of PYUSD in the United States in 2023. PayPal described the wider distribution as part of a broader effort to build liquidity, utility, and ubiquity for the stablecoin within its payments network.

PayPal said users in markets not yet live will receive access to PYUSD in the coming weeks.