PayPal Widens Stablecoin Reach, Enables PYUSD in 70 Countries

PayPal is opening access to PYUSD in 70 countries, a major step that could make global money transfers cheaper and easier for users far beyond the U.S. and U.K.

Key Takeaways

• PayPal has expanded PYUSD access to 70 countries across South America, Africa, and Asia.
• Users in those markets can now send, receive, and hold PYUSD in their PayPal wallets.
• The move could lower costs tied to cross border payments and help users keep funds in a U.S. dollar pegged asset.
• Fortune reported that the expansion also lets eligible users earn rewards on their PYUSD holdings.

What Happened?

PayPal has significantly widened the availability of its branded stablecoin, PYUSD, allowing customers in 70 nations to hold it in their wallets. Until now, the stablecoin was only available for holding in the United States and the United Kingdom.

According to Fortune, the expansion includes countries such as Uganda, Colombia, and Peru, along with more markets across South America, Africa, and Asia. The broader rollout gives users access to a digital dollar based asset inside the PayPal ecosystem.

PayPal Pushes PYUSD Beyond Its Early Markets

The latest move marks one of PayPal’s biggest crypto expansions since launching PYUSD in the summer of 2023. The company is taking the stablecoin from a limited market product to a much wider international payments tool.

May Zabaneh, senior vice president and PayPal’s head of crypto, told Fortune that the expansion is about opening access where financial friction is often highest. She said, “,” said Zabaneh.

“

Now you’re really opening up not only access – especially in places where they need it most – but also cross-border transfers and volume, where the pain is felt so high.

May ZabanehSenior Vice President and Head of Crypto – PayPal

That comment highlights the company’s larger goal. PayPal is not just adding another crypto feature. It is trying to position PYUSD as a more practical tool for people who send money internationally and want to avoid costly conversions and transfer charges.

Why This Matters for Global Payments?

One of the biggest use cases for stablecoins has long been cross-border payments. Because they are tied to real world assets such as the U.S. dollar, stablecoins can help users move value without the same level of cost and delay often seen in traditional payment rails.

The example shared in the reporting helps explain the issue clearly. If a user in New York sends money through PayPal to someone in Lima, the recipient may normally face a transfer fee and may also need to withdraw funds in the local currency, the Peruvian sol. With PYUSD, users can keep value in a digital dollar form instead of converting immediately.

That change may be especially useful in countries where local users have had limited wallet flexibility. In some markets, funds sent through PayPal have traditionally moved straight into a bank account instead of remaining in the wallet. Zabaneh said, “It unlocks a balance-type concept in these accounts and an earnings concept,” she said.

Rewards, Payouts, and Growing Adoption

The expansion does more than enable transfers. Users in supported markets can also earn rewards on their PYUSD balances. Existing holders in the U.S. currently earn 4% annually, according to the reporting.

PayPal is also continuing to build PYUSD into other parts of its business. The stablecoin is already being used for business payouts, with customers such as YouTube able to receive payments in PYUSD. The company has also tested using the token for international transfers between its own corporate entities.

That broader utility comes as PYUSD continues to grow. Over the past year, its market capitalization has climbed to $4.1 billion, according to CoinGecko data cited in the source material.

CoinLaw’s Takeaway

I think this is one of the clearest signs yet that PayPal wants PYUSD to be more than a side product. In my experience, the strongest crypto products are the ones that solve a real payment problem, and cross-border transfers are one of the biggest pain points in finance. I found this rollout especially important because it gives users in emerging markets a better shot at holding and moving digital dollars without as much friction. If PayPal keeps expanding rewards, payouts, and real world usage, PYUSD could become much more relevant in everyday payments.

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