PayPal’s PYUSD stablecoin expands to 70 new markets globally

PayPal just turned its dollar-pegged stablecoin from a two-country experiment into a 70-market operation. The payments giant announced on March 17 that PYUSD is now available to eligible users across dozens of new countries, a dramatic leap from its previous footprint in just the US and the United Kingdom.

The expansion covers a geographically diverse set of markets including Colombia, Costa Rica, Peru, Uganda, and Singapore. Users in these regions can now buy, hold, send, and receive PYUSD directly through their existing PayPal accounts, with the option to transfer to external wallets or convert holdings into local currencies.

From niche product to global stablecoin contender

PYUSD’s circulating supply now exceeds $4 billion, roughly quadrupling from approximately $1 billion in August 2025. That trajectory has pushed it to the seventh-largest stablecoin by market capitalization.

The stablecoin is issued by Paxos, which operates under federal regulatory oversight.

The cross-border payments play

Sending money across borders through conventional channels often means paying fees of 5% to 10% and waiting several business days for settlement. PYUSD transactions settle on blockchain rails, which can reduce both cost and time dramatically.

PayPal is also dangling an incentive that traditional remittance services can’t match: rewards on PYUSD holdings. Users in many of the new markets can earn yield simply by holding the stablecoin in their PayPal accounts. The feature isn’t available everywhere, though. Singapore and the UK are notably excluded from the rewards program.

Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.