PayPal Expands Access to its Dollar-backed Stablecoin to 70 Markets Worldwide

PayPal has recently expanded access to its dollar-backed stablecoin, PayPal USD (PYUSD), making it available in 70 markets worldwide.

This marks a significant global push for PYUSD, which was previously limited primarily to users in the United States and United Kingdom since its launch in 2023. The expansion adds around 68 new countries and regions, covering parts of Asia-Pacific, Europe, Latin America, North America, South America, Africa, and other areas.

Users in these 70 markets can now buy, hold, send, receive, and in many cases earn rewards on PYUSD directly within their PayPal accounts. PYUSD enables faster settlements, lower-cost cross-border transfers (compared to traditional methods), and easier participation in the global economy by reducing fees and currency conversion issues.

The stablecoin is federally regulated in the US, fully backed by USD deposits and Treasuries, and supports transfers to third-party wallets or conversion to local currencies in supported areas. PayPal operates in roughly 200 countries overall, so this rollout covers a subset, with additional markets expected to gain access in the coming weeks.

Examples of Included Countries and Region: Colombia, Peru, Guatemala, Honduras, Panama, Costa Rica, Dominican Republic (Latin America/South America). Uganda (Africa). Singapore (Asia-Pacific). United Kingdom and United States (pre-existing). Others like Faroe Islands and Greenland.

PayPal’s head of crypto, May Zabaneh, emphasized that this move provides “faster access to funds, lower-cost ways to send money across borders, and a more direct path to participating in the global economy.” PYUSD’s market cap has grown substantially reflecting increasing adoption. Users can check availability directly in the PayPal app as rollout may vary slightly by location.

This positions PayPal as a major player in bridging traditional finance with stablecoins for everyday global payments. This move transforms PYUSD from a primarily U.S./U.K.-focused product (launched in 2023) into a more globally accessible, dollar-backed stablecoin integrated directly into PayPal’s ecosystem of hundreds of millions of users.

Traditional international remittances often involve high fees (5-7% in many corridors) and multi-day settlement times. PYUSD enables near-instant or minutes-fast transfers with significantly lower costs, particularly benefiting regions like Latin America. This directly addresses pain points in high-remittance economies.

In many emerging markets, users gain easier access to USD-pegged value storage without immediate currency conversion. Eligible holders can earn rewards similar to the ~4% in the U.S., introducing a “balance + earnings” model in PayPal wallets—essentially turning stablecoin holdings into a yield-bearing option.

Individuals in these 70 markets can buy, hold, send, receive, and transfer PYUSD to external wallets, reducing friction for freelancers, small businesses, or families relying on international payments. Merchants accepting PYUSD get proceeds available in minutes vs. days/weeks traditionally, aiding cross-border operations and global commerce participation.

Reduced reliance on costly legacy systems could boost margins for e-commerce sellers and international suppliers. As a federally regulated (U.S.) stablecoin fully backed by USD deposits and Treasuries, PYUSD offers compliance-friendly entry into crypto for businesses wary of unregulated options.

With PYUSD’s market cap already around $4-4.1 billion, this rollout aims to build the “liquidity, utility, and ubiquity” needed for mainstream use. It positions PayPal as a key player in competing with dominant issuers like Tether (USDT) and Circle (USDC) by leveraging its massive user base ~430 million active accounts.

PayPal’s push validates stablecoins for everyday global payments, accelerating integration with traditional finance. It highlights how fintech giants are racing to capture remittance and settlement flows—especially as competitors like Visa/Mastercard build blockchain layers.

While promising, success depends on regulatory alignment in each market competition from established stablecoins, and user trust in centralized custody. Rollout is phased, with more markets expected soon, but full global coverage (PayPal operates in ~200 countries) remains incomplete.

This expansion accelerates the convergence of fiat payments and crypto rails, potentially reshaping cross-border finance by making dollar-based digital money more inclusive, efficient, and rewarding—especially in underserved regions.

PayPal’s head of crypto, May Zabaneh, framed it as driving “commerce forward for everyone” by tackling outdated systems. Adoption will hinge on real-world usage growth in the coming months.