PayPal Extends PYUSD Stablecoin Access to 68 New Countries for Cross-Border Payments

TLDR

• PayPal is making its dollar-backed stablecoin, PYUSD, available to users in 70 markets, an increase from its previous availability in only the US and UK.
• The expansion includes regions across Africa, South America, Asia-Pacific, and Latin America.
• Merchants will now be able to access their payment earnings in minutes, a significant improvement from the previous waiting period of several days.
• PYUSD’s market capitalization has grown to approximately $4.1 billion, a substantial increase from less than $1 billion a year ago.
• A feature allowing U.S. users to earn about 4% annually on their PYUSD balances is now being extended to users globally.

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(SeaPRwire) –   On March 17, PayPal announced the expansion of access to its dollar-pegged stablecoin, PYUSD, to users in 70 markets worldwide. Previously, the token was exclusively available to users in the United States and the United Kingdom.

PayPal Holdings, Inc., PYPL

This rollout introduces PYUSD to 68 new countries, encompassing regions in Africa, South America, Asia-Pacific, and Latin America. Countries such as Singapore, Peru, and Guatemala are among those gaining access, with further additions planned in the upcoming weeks.

NEW: PAYPAL’S $PYUSD EXPANDS TO 70 COUNTRIES@PayPal has officially expanded its stablecoin $PYUSD from just the U.S. and U.K. to 70 countries across its global network.

The rollout enables cross-border transfers and stablecoin rewards in every new market where PayPal… pic.twitter.com/3h5fYANddo

— BSCN (@BSCNews) March 17, 2026

Users in these newly supported regions can now hold, send, and receive PYUSD directly within their PayPal wallets. They also have the option to transfer the token to external cryptocurrency wallets or convert it to their local currency upon withdrawal.

This development addresses a prior restriction that required users in many markets to convert funds to local currency or withdraw to a bank account immediately. In certain markets, like Malawi, PayPal transfers historically necessitated instant bank withdrawals.

May Zabaneh, PayPal’s senior vice president and head of crypto, highlighted the expansion as an initiative to facilitate “cross-border transfers and volume, where the pain is felt so high.”

PYUSD was initially launched in August 2023 in collaboration with Paxos Trust Company. It is backed on a 1:1 basis by U.S. dollar deposits, short-term Treasuries, and cash equivalents, and is issued under U.S. regulatory supervision.

Faster Settlement for Merchants

A significant enhancement for businesses is the accelerated settlement speed. Merchants who accept PYUSD can now receive their payment proceeds within minutes, a considerable improvement over the days typically required through traditional payment channels.

This quicker turnaround can positively impact cash flow for merchants engaged in high-volume or cross-border commerce. PayPal suggests that the token can lead to reduced costs and fewer intermediaries in international payment processes.

The rewards feature is also being extended globally. U.S. users currently receive an annual return of approximately 4% on their PYUSD balances, effectively transforming idle wallet funds into a yield-generating asset.

Where PYUSD Stands in the Stablecoin Market

PYUSD’s market capitalization has risen to around $4.1 billion, a notable increase from under $1 billion a year ago. Despite this growth, it remains significantly behind the leading stablecoins in the market.

Tether’s USDT holds the leading position with a market cap of approximately $143 billion, while Circle Internet’s USDC is valued at roughly $78 billion.

The stablecoin’s availability has expanded beyond its original Ethereum network to include Solana, Arbitrum, and Stellar, with interoperability layers further broadening its reach.

PayPal has not yet released a comprehensive list of all newly supported countries. The rollout is expected to be gradually implemented within the app for eligible users over the coming weeks.