PayPal Expands PYUSD Stablecoin Globally as Supply Tops $4 Billion
PayPal has expanded its dollar-backed stablecoin, PayPal USD (PYUSD), to 70 global markets, allowing users to buy, hold, send, and receive PYUSD via their PayPal accounts. The move aims to provide faster and lower-cost alternatives to traditional cross-border payments. Users can earn rewards, instantly transfer funds to friends, third-party wallets, and convert PYUSD to local currency. Businesses accepting PYUSD gain faster access to proceeds, enhancing liquidity and reducing settlement times. The rollout covers regions including Asia-Pacific, Europe, Latin America, and North America, with countries such as Colombia, Costa Rica, Singapore, the UK, and the US included. Some regional restrictions apply, like limited rewards in the UK and Singapore, and business-only access in Singapore. PayPal presents the expansion as a step toward a more inclusive, globally connected commerce ecosystem. PYUSD, launched in the US in 2023, is now the seventh-largest stablecoin by market cap, with over $4 billion in circulation, compared to Tether’s $184 billion USDT market cap.
