PayPal is dramatically widening the reach of its dollar-backed stablecoin, PayPal USD (PYUSD), announcing rollout to 70 markets worldwide as the token’s supply tops $4 billion.
The expansion aims to position PYUSD as a faster, lower-cost alternative to legacy cross-border payment rails. PayPal users in newly supported countries will be able to buy, hold, send and receive PYUSD directly inside their PayPal accounts. The company highlights a range of consumer and merchant features: holders can earn rewards on balances (where available), instantly move funds to friends, family or third-party digital wallets, and convert PYUSD into local currency for everyday spending. For merchants, PayPal says accepting PYUSD can shrink settlement times from days to minutes, improving liquidity and reducing dependence on traditional banking timelines.
“Consumers and businesses around the world are looking for faster, more seamless ways to transact globally,” PayPal Senior VP and GM of Crypto May Zabaneh said. “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.”
The rollout spans Asia-Pacific, Europe, Latin America and North America, with named markets including Colombia, Costa Rica, Singapore, the United Kingdom and the United States. PayPal says users in the remaining markets should gain access in the coming weeks. The company frames this as a follow-up to PYUSD’s U.S. debut in 2023, part of a broader push to increase the token’s practical utility and cross-border liquidity.
There are some regional caveats: rewards on PYUSD are not available to users in Singapore or the U.K., and Singapore access is currently limited to business accounts only.
On market size, CoinGecko data cited by PayPal places PYUSD as the seventh-largest stablecoin with just over $4 billion in circulation—the token first cleared the $4 billion mark in February. By comparison, market leader Tether’s USDT commands a substantially larger footprint, with a market cap around $184 billion.
As major payments platforms move further into on-chain money, PayPal’s global PYUSD push could accelerate real-world stablecoin use cases—from faster remittances to quicker merchant settlements—while highlighting how far incumbent stablecoins still dominate in scale.
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