PYUSD Stablecoin Reaches 70 Nations as PayPal Expands Global Access
In a major expansion effort, PayPal brings its PYUSD stablecoin to 68 new markets beyond its original US and UK availability, seeking to lower international transaction costs and provide yield opportunities for users.
Digital payments powerhouse PayPal is broadening availability of PayPal USD, its dollar-pegged stablecoin, by introducing the digital currency to an additional 68 markets around the world in its most ambitious stablecoin expansion to date.
The company revealed on Tuesday that PayPal USD (PYUSD) will become accessible to users in 70 nations globally throughout March, granting them the ability to send, hold and receive the digital currency.
The rollout means PYUSD can now be accessed by PayPal account holders spanning various geographical regions, including North America, Latin America, Europe and the Asia-Pacific area. Until now, the stablecoin had been limited to users residing in the United Kingdom and the United States.
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,
PayPal head of crypto May Zabaneh said.
Expansion unlocks "balance-type concept" with rewards
In addition to facilitating PYUSD transfers, customers in the newly included territories will have the opportunity to generate returns on their stablecoin balances. According to the company's announcement, the expansion enables transfers to external digital wallet services.
At present, PayPal account holders in certain nations like Peru face limitations where withdrawals can only be processed in their local national currency, resulting in cross-border transaction charges. Following this upgrade, account holders will gain the capability to send, receive and maintain funds denominated in US dollars while minimizing transfer costs, Zabaneh explained in a conversation with Fortune.
Certain markets, including Malawi, currently prohibit users from maintaining transfer funds within their PayPal digital wallets, effectively requiring immediate transfer of all incoming funds to linked bank accounts. The introduction of PYUSD access will enable these users to retain funds within their PayPal wallet ecosystem.
It unlocks a balance-type concept in these accounts and an earnings concept,
Zabaneh said.
PYUSD is issued by Paxos, PayPal distributes
This geographic expansion arrives nearly three years following PayPal's initial introduction of its PYUSD stablecoin through a partnership with issuer Paxos Trust in August 2023.
The digital currency has established itself as among the most prominent dollar-backed stablecoins globally, currently holding the position as the seventh-largest stablecoin with a total market capitalization hovering around $4.1 billion, based on data from CoinGecko.
Throughout 2025, PYUSD experienced substantial expansion, with its total market capitalization surging 600% from approximately $500 million at the beginning of 2025 to reach $3.6 billion by year's end.
Cointelegraph reached out to PayPal seeking additional commentary regarding the expansion initiative, but had not received a response by publication.