PayPal has broadened the reach of its USD-pegged stablecoin, PayPal USD (PYUSD), to 70 markets — a major step in the company’s push to make crypto-based payments a more practical alternative for global commerce.
What changed
PayPal announced that PYUSD is now available in 70 markets after adding 68 new countries this month. That expansion gives users across Asia-Pacific, Europe, Latin America and North America the ability to hold, send and receive the stablecoin directly in their PayPal accounts, with faster settlement and lower costs than many traditional cross-border payment methods.
Background and regulatory context
PYUSD was introduced in August 2023. PayPal initially paused development amid scrutiny of its issuance partner, Paxos, and the platform later received an SEC subpoena tied to the project. The regulator’s 16-month inquiry ended in February 2025 without enforcement action. Since then PYUSD’s market capitalization has grown to roughly $4.1 billion — about a fivefold increase over the past year.
Where it’s available now
Previously limited to U.S. and U.K. customers, the rollout now spans a wide set of markets. PayPal highlighted a sample of newly supported countries including Colombia, Costa Rica, the Dominican Republic, the Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru and Singapore — alongside longstanding availability in the United States and the United Kingdom. PayPal says users in the remainder of the newly supported markets will gain access in the coming weeks.
User benefits and rewards
Customers in the newly enabled regions can hold, send and receive PYUSD in-wallet, which PayPal says enables faster access to funds and cheaper cross-border transfers. PayPal also offers rewards on stablecoin holdings, though those rewards aren’t available in Singapore or the U.K. U.S. holders currently receive an annual 4% reward.
PayPal’s strategy and product expansion
PayPal framed the geographic push as a way to “build the liquidity, utility, and ubiquity of PYUSD necessary to create a more inclusive, global commerce ecosystem.” May Zabaneh, PayPal’s SVP and GM of Crypto, emphasized the real-world pain points the rollout targets: faster access to funds, lower-cost cross-border transfers and improved participation in the global economy.
On the technology side, PYUSD launched on Ethereum and has since been expanded to other networks — including Tron, Avalanche, Aptos and Sei — via LayerZero. The stablecoin is also gaining utility in creator payouts: YouTube added a payout option in December allowing U.S. creators to receive earnings in PYUSD.
Bottom line
By widening PYUSD’s availability to 70 markets, PayPal is betting that stablecoins can meaningfully reduce friction and cost in cross-border payments while attracting both consumer and creator use cases. Whether broader adoption follows will depend on how well PYUSD competes on trust, liquidity and real-world utility in each market.
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