SAN JOSE — PayPal is making PayPal USD (PYUSD) available in 70 markets worldwide in the PayPal account. This dollar-backed stablecoin enables users to send funds globally, with faster settlement and lower cost than traditional payment methods.
As global commerce becomes increasingly digital, individuals and businesses are looking for faster and more seamless ways to transact across borders. Stablecoins like PYUSD help power an inclusive, fast, lower cost, global commerce system.
“Consumers and businesses around the world are looking for faster, more seamless ways to transact globally and the current system still charges too much, takes too long, and settles on timelines that were designed for a different era,” said May Zabaneh, Senior Vice President and General Manager of Crypto, PayPal. “We are working to change that. 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.”
Users in newly supported markets can buy, hold, send, and receive PYUSD directly from their PayPal account. Additionally, eligible users can earn rewards on their PYUSD holdings, can instantly transfer funds to friends and family, whether on PayPal or to third-party digital wallets, and convert PYUSD to local currency when withdrawing funds³ for everyday spending.
Businesses that accept PYUSD can use proceeds in minutes rather than days or weeks, improving liquidity and reducing reliance on traditional settlement cycles. Faster access to funds can help businesses manage working capital, support cross-border operations, and participate in global commerce.
Following the launch of PYUSD in the United States in 2023, this expansion is another critical step in creating the liquidity, utility, and ubiquity of PYUSD necessary to create a more inclusive, global commerce ecosystem. By making it available in more places through PayPal, PYUSD helps consumers send funds internationally at lower cost, while enabling businesses to settle faster, reduce foreign payment fees, and access proceeds more quickly.
PYUSD, a US federally regulated stablecoin, is now available to users in their PayPal accounts across multiple global regions, including Asia-Pacific, Europe, Latin America, and North America. This includes Colombia, Costa Rica, Dominican Republic, Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore, the United Kingdom, and the United States. PayPal users in the remaining markets will have access to PYUSD in the coming weeks.
PayPal USD is issued by Paxos Trust Company, N.A., a fully-chartered trust company regulated by the Office of the Comptroller of the Currency (OCC). Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD.
