PayPal has expanded access to its stablecoin PayPal USD (PYUSD) to 70 markets, allowing users worldwide to send, hold, and receive the token while enabling faster, lower-cost global transactions.
PayPal Expands PYUSD Across 70 MarketsThe fintech launched the stablecoin in August 2023 after initially pausing development due to scrutiny of PayPal’s issuance partner, Paxos. That same year, PayPal received a subpoena from the US Securities and Exchange Commission (SEC) related to its stablecoin.
Previously, only customers in the US and the UK had access to the PYUSD. However, the latest expansion has made PYUSD available to users across multiple global regions, including Asia-Pacific, Europe, Latin America, and North America.
This includes Colombia, Costa Rica, the Dominican Republic, the Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore, the United Kingdom, and the United States. Meanwhile, users in the remaining markets will have access to PYUSD in the coming weeks.
Users in the newly supported regions will be able to hold, send, and receive the stablecoin directly on their PayPal accounts, enabling faster settlement and lower cost than traditional payment methods.
PayPal Eyes ‘More Inclusive, Global Commerce Ecosystem’The payments giant affirmed that this geographical expansion marks a critical step in its stablecoin push to build “the liquidity, utility, and ubiquity of PYUSD necessary to create a more inclusive, global commerce ecosystem.”
“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,” she affirmed in the official announcement.
