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PayPal made its dollar-backed stablecoin available to users across 70 markets today. The announcement, issued from San Jose this morning, extends PYUSD access to regions including Asia-Pacific, Europe, Latin America and North America. The token had previously been accessible only in the United States and United Kingdom since its 2023 launch. Users in the remaining markets on PayPal's roughly 200-country network will gain access in the coming weeks.
The newly covered countries include Colombia, Costa Rica, Dominican Republic, Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru and Singapore. Singapore access is limited to business account holders for now. Rewards on holdings are not available to users in Singapore or the United Kingdom.
For consumers in newly supported markets, the core functionality is straightforward. Users can buy, hold, send and receive PYUSD inside their PayPal account, transfer it to third-party digital wallets, or convert it to local currency at the point of withdrawal. Eligible users can also earn rewards on their holdings.
The business case is different. Merchants accepting PYUSD receive settlement in minutes. Traditional cross-border payment cycles run to days or weeks. That gap has direct consequences for working capital and cash flow, particularly for businesses running international operations.
PYUSD is issued by Paxos Trust Company, regulated by the Office of the Comptroller of the Currency. Its reserves are fully backed by US dollar deposits, Treasuries and equivalent cash instruments. Each token redeems at exactly one dollar.
PayPal operates across approximately 200 countries. The 70-market rollout covers a subset of that network. The company described today's expansion as a step toward building the liquidity and reach required to make PYUSD a functioning part of global commerce rather than a domestic product with limited international utility.
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