PayPal is widening access to its US-dollar stablecoin, PayPal USD (PYUSD), adding 68 markets so the token will be available in 70 countries starting in March. The expansion lets PayPal account holders in regions across Asia-Pacific, Europe, Latin America and North America receive, hold and send PYUSD. Previously, only customers in the United States and the United Kingdom could keep the stablecoin in their accounts.
PayPal says broader PYUSD availability will give users faster access to funds, lower-cost cross-border transfers and simpler participation in the global digital economy. The rollout also enables rewards on PYUSD balances in newly supported jurisdictions and supports transfers to third-party digital wallets.
In some countries today, PayPal users face limitations that increase costs. For example, customers in Peru can currently only withdraw PayPal balances in local currency, incurring cross-border conversion fees. With PYUSD, those users will be able to hold and transfer US dollars directly, reducing conversion and transfer costs. In markets such as Malawi, where incoming PayPal transfers must today be pushed immediately to a bank account, PYUSD access will allow funds to remain in PayPal wallets, effectively introducing a balance that can earn rewards.
PYUSD is issued by Paxos, with PayPal acting as distributor. The stablecoin launched in partnership with Paxos in August 2023. Since then, PYUSD has grown into one of the larger USD-pegged stablecoins: CoinGecko ranks it seventh by market capitalization, at about $4.1 billion. The token experienced significant growth in 2025, with market cap rising roughly 600% from around $500 million early in the year to roughly $3.6 billion by year-end.
PayPal confirmed the planned expansion and described the expected user benefits, while a request for additional comment was not immediately answered. The move underscores PayPal’s continued push into digital assets and cross-border payments by giving more global users direct access to a dollar-denominated stablecoin.