PayPal has unveiled plans to broaden the availability of PayPal USD (PYUSD), its dollar-backed stablecoin, to a network of 70 countries globally via the PayPal platform.

This rollout encompasses regions such as Asia-Pacific, Europe, Latin America, and North America, with additional markets expected to come online shortly.

In these newly supported areas, users can perform a variety of transactions using PYUSD directly from their PayPal accounts, including buying, holding, sending, and receiving the stablecoin. They can also send funds instantly to other PayPal users or third-party digital wallets, convert PYUSD into local currency upon withdrawal, and earn rewards on eligible holdings.

Enhanced business benefits

The expansion is designed to offer businesses quicker settlement times. Merchants can receive payments in minutes instead of the usual days or weeks required by traditional payment systems, which helps improve working capital management and support cross-border operations.

Currently, PYUSD has market presence in Colombia, Costa Rica, the Dominican Republic, the Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore, the UK, and the US, among others within these regions.

This move underscores PayPal’s commitment to developing liquidity, utility, and global reach for PYUSD. With over 70 markets now covered, PYUSD is being presented as a seamless cross-border payments solution integrated into the company’s existing user ecosystem rather than an independent cryptocurrency product.

The announcement follows growing stablecoin usage in payment solutions worldwide and enhanced regulatory frameworks in the EU, UK, and US that provide clearer guidelines for issuers and distributors.

In response to these developments, May Zabaneh, Senior Vice President and General Manager of Crypto at PayPal, stated that this expansion offers users faster access to funds, lower-cost international transfer options, and a smoother path to participating in the global economy.