PayPal Expands PYUSD Stablecoin Globally as Supply Tops $4 Billion

PayPal has announced the expansion of its dollar-backed stablecoin, PayPal USD (PYUSD), to 70 markets worldwide. This payments giant said the move aims to provide users with faster, cheaper alternatives to traditional cross-border payment methods.

Users in newly supported markets can buy, hold, send and receive PYUSD directly through their PayPal accounts. Additional features include the ability to earn rewards from assets, transfer money instantly to friends and family or third-party digital wallets, and convert PYUSD to local currency for everyday spending.

Businesses that accept PYUSD can access their proceeds in minutes instead of days, the company said, improving liquidity and reducing reliance on traditional settlement times.

“Consumers and businesses around the world are looking for faster, more seamless ways to transact globally, and the current system still overcharges, takes too long, and uses timelines designed for a different era,” said PayPal Senior VP and GM of Crypto May Zabaneh in a statement statement.

“We’re working to change that. Enabling PYUSD in user accounts in 70 markets gives people faster access to their money, cheaper ways to send money across borders, and a more direct path to participating in the global economy. That’s what drives commerce forward for everyone,” she added.

The rollout spans multiple global regions, including Asia Pacific, Europe, Latin America and North America, with specific markets including Colombia, Costa Rica, Singapore, the United Kingdom and the United States, among others. Users in the remaining markets are expected to gain access in the coming weeks.

PayPal framed the expansion as a continuation of the token’s 2023 US launch, positioning PYUSD as a tool to build a more inclusive and globally connected trading ecosystem. By increasing the availability of the stablecoin, the company hopes to increase liquidity and practicality for both consumers and businesses operating across borders.

There are notable restrictions in certain regions. For example, rewards are not available to users in Singapore and the United Kingdom, and access to Singapore is limited to business account holders only.

PYUSD is currently the seventh largest stablecoin by market capitalization, according to data from Coin geckowith over $4 billion worth of dollar-pegged token in circulation. The token crossed the $4 billion mark for the first time in February. USDT from Tetherby far the market leader, it has a market capitalization of approximately $184 billion.