PayPal Expands Stablecoin to 70 Markets, Quadruples Supply
PayPal has significantly broadened the reach of its dollar-pegged stablecoin, PYUSD, transforming a two-country pilot program into a global operation spanning 70 markets. The payments behemoth announced on March 17 that PYUSD is now accessible to eligible users in numerous new countries, a substantial expansion from its prior availability solely in the United States and the United Kingdom.
Global Rollout Includes Diverse Regions
The expansion encompasses a geographically varied array of markets, including Colombia, Costa Rica, Peru, Uganda, and Singapore. Individuals in these regions can now purchase, hold, send, and receive PYUSD directly within their existing PayPal accounts. The service also offers the flexibility to transfer funds to external digital wallets or convert PYUSD holdings into local currencies.
Stablecoin Surges in Market Capitalization
PYUSD’s circulating supply has now surpassed $4 billion, a nearly fourfold increase from approximately $1 billion in August 2025. This rapid growth has propelled it to become the seventh-largest stablecoin by market capitalization. The stablecoin is issued by Paxos, an entity operating under federal regulatory supervision.
Addressing Remittance Costs and Offering Rewards
Traditional cross-border money transfers often incur fees ranging from 5% to 10% and can take several business days to settle. PYUSD transactions, by contrast, leverage blockchain technology, which can dramatically reduce both the cost and the time required for settlement.
Furthermore, PayPal is introducing an incentive that traditional remittance services cannot easily replicate: yield on PYUSD holdings. In many of the newly added markets, users can earn returns simply by keeping the stablecoin in their PayPal accounts. However, this rewards feature is not universally available, with Singapore and the United Kingdom notably excluded from the program.
