Global payments firm PayPal has announced a major expansion of its dollar-backed stablecoin, PayPal USD (PYUSD), making it available to users across 70 markets worldwide. The move marks a broad international rollout of the token, which first launched in the United States in 2023.
The company said the expansion will allow millions of users and merchants to access PYUSD directly within their PayPal accounts. The rollout spans regions across Asia-Pacific, Europe, Latin America, and North America, with availability in countries such as Colombia, Costa Rica, Peru, Singapore, the United Kingdom, and the United States.
Stablecoin access moves beyond early markets
PYUSD had remained limited in scope after its initial launch. The latest update extends access to dozens of new jurisdictions, which shifts the token from a regional offering to a global product.
Users in supported markets can now buy, hold, send, and receive PYUSD through their accounts. The company confirmed that transfers can take place between PayPal users as well as to third-party digital wallets. Users also have the option to convert PYUSD into local currency when withdrawing funds.
The company described the stablecoin as a tool that supports faster settlement and lower transaction costs compared to traditional payment systems. PayPal positioned the rollout as part of a broader effort to modernize cross-border payments.
"Consumers and businesses around the world are looking for faster, more seamless ways to transact globally and the current system still charges too much, takes too long, and settles on timelines that were designed for a different era," said May Zabaneh, Senior Vice President and General Manager of Crypto at PayPal.
Businesses gain faster access to funds
The update introduces operational changes for merchants that accept PYUSD. According to PayPal, businesses can access proceeds from transactions within minutes instead of waiting days or weeks under traditional settlement cycles.
This faster access to funds allows merchants to manage liquidity more efficiently. It also reduces reliance on banking intermediaries for cross-border payments. PayPal stated that the system supports working capital needs and improves participation in global commerce.
"We are working to change that. 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 and that is what drives commerce forward for everyone."
Rewards and wallet functionality introduced
Eligible users in supported markets can earn rewards on their PYUSD holdings. PayPal noted that rewards availability depends on regional regulations. Users in Singapore and the United Kingdom do not qualify for this feature.
The platform also enables instant transfers to friends, family, and external wallets. This functionality expands the use of PYUSD beyond internal account balances and supports broader digital asset transfers.
In some regions, the update changes how funds can be stored. Users who previously had to withdraw funds immediately in local currency can now hold balances in U.S. dollars through PYUSD. This adjustment reduces exposure to foreign exchange fees and allows greater control over the timing of conversions.
Regulatory structure and issuance model
PYUSD is issued by Paxos Trust Company, a regulated trust company overseen by the Office of the Comptroller of the Currency. The stablecoin maintains a one-to-one peg with the U.S. dollar.
Reserves consist of U.S. dollar deposits, U.S. Treasuries, and similar cash equivalents. PayPal confirmed that PYUSD can be bought or sold at a fixed rate of $1.00 per token through PayPal and Venmo.
The company operates under licenses that permit virtual currency business activity, including approval from the New York State Department of Financial Services.
Expansion builds on growing stablecoin presence
The rollout follows steady growth in PYUSD adoption. CoinMarketCap data shows the token has reached a market capitalization exceeding $4 billion, which places it among the largest dollar-pegged stablecoins globally.
PayPal framed the expansion as a step toward increasing liquidity and utility for the asset. The company stated that broader availability supports a more connected global payments system.
The rollout also reflects changes in user demand. PayPal pointed to increased interest in faster and lower-cost payment options, especially for cross-border transactions.
Regional limitations remain in place
Despite the wide rollout, some restrictions apply. In Singapore, PYUSD access is limited to business account holders. Consumer accounts in that market do not support the stablecoin.
Rewards programs also exclude certain jurisdictions, including Singapore and the United Kingdom. PayPal stated that user experience may vary depending on local regulations and platform features.
The company added that users in remaining markets will gain access in the coming weeks, which suggests further expansion beyond the current 70 regions.
PayPal has moved PYUSD from a limited rollout to a global offering within three years of launch. The company aims to position the stablecoin as a practical tool for payments, transfers, and merchant settlement.
The update introduces faster access to funds for businesses and more flexible options for users who transact across borders. PayPal continues to integrate digital assets into its core payments infrastructure while maintaining regulatory oversight through its issuance partner.
Matvii Diadkov
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