PayPal has expanded access to its U.S. dollar-pegged stablecoin, PayPal USD (PYUSD), to 70 markets, enabling users in supported regions to send, receive, and hold the token. The rollout is aimed at facilitating faster, lower-cost cross-border transactions within the PayPal ecosystem and on public blockchain rails.
Global rollout spans 70 markets
PayPal said the expanded availability of PYUSD will allow eligible users to transact with the stablecoin across 70 jurisdictions. The company framed the move as part of its broader effort to streamline international transfers and digital commerce by leveraging blockchain-based settlement. Product features and access may vary by country, reflecting local regulations and service support.
What is PYUSD?
PYUSD is a U.S. dollar–denominated stablecoin launched in 2023 and issued by Paxos Trust Company on the Ethereum blockchain as an ERC-20 token. It is designed to maintain a 1:1 peg with the U.S. dollar and is backed by reserves held in U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents. Paxos operates under the oversight of the New York Department of Financial Services.
Why the expansion matters
Stablecoins are increasingly used for remittances, trading, and merchant settlement because they can move value globally around the clock and reduce reliance on traditional payment rails. Extending PYUSD to more markets positions PayPal to play a larger role in digital asset payments, offering consumers and businesses an additional option alongside established stablecoins such as USDT and USDC.