PayPal is taking its dollar-backed stablecoin global. The company announced that PayPal USD (PYUSD) is now available in 70 markets, pushing the token’s circulating supply past $4 billion — making it the seventh-largest stablecoin by market cap, according to CoinGecko. PYUSD first launched in the U.S. in 2023 and cleared the $4 billion milestone in February.
Why this matters
PayPal frames the rollout as a move to speed up and cut the cost of cross-border payments. By embedding PYUSD directly into PayPal accounts, the company aims to give consumers and businesses faster access to funds and an alternative to legacy settlement systems that can be slow and expensive.
What users can do with PYUSD
- Buy, hold, send, and receive PYUSD directly in PayPal accounts.
- Earn rewards on PYUSD holdings (with regional restrictions).
- Instantly send PYUSD to friends, family, or third-party digital wallets.
- Convert PYUSD to local currencies for everyday spending.
For businesses, PayPal says accepting PYUSD can enable proceeds to clear in minutes rather than days, improving liquidity and reducing reliance on traditional settlement timelines.
Where it’s available
The expansion covers markets across Asia-Pacific, Europe, Latin America, and North America — including Colombia, Costa Rica, Singapore, the U.K., and the U.S. PayPal says users in remaining markets will be onboarded in the coming weeks.
Notable limitations
- Rewards are unavailable to users in Singapore and the U.K.
- In Singapore, PYUSD access is currently limited to business accounts only.
PayPal’s stance
“Consumers and businesses around the world are looking for faster, more seamless ways to transact globally… We are working to change that,” said May Zabaneh, PayPal Senior VP and GM of Crypto. She added that enabling PYUSD across 70 markets gives people faster access to funds and lower-cost cross-border options, supporting broader participation in the global economy.
Market context
While PYUSD’s $4 billion-plus supply is significant growth for a relatively new entrant, it remains far behind market leader Tether’s USDT, which has a market cap of roughly $184 billion. PayPal’s global push seeks to expand real-world utility for PYUSD and boost cross-border liquidity for users and merchants.
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