PayPal Expands PYUSD Stablecoin Access to 70 Global Markets
Eligible users can buy, hold, send and receive PayPal USD (PYUSD), transfer it to external wallets and convert it into local currency, subject to local rules.
PayPal has expanded PayPal USD (PYUSD) access to 70 markets worldwide, giving eligible users more ways to move a dollar-denominated stablecoin across borders through their PayPal accounts.
The rollout covers markets in Asia-Pacific, Europe, Latin America and North America, including Colombia, Costa Rica, the Dominican Republic, Guatemala, Honduras, Panama, Peru, Singapore, the United Kingdom and the United States.
Eligible users can buy, hold, send and receive PYUSD through PayPal. They can also transfer it to third-party digital wallets and convert it into local currency when withdrawing funds, subject to local rules and product limitations.
Access varies by market. Singapore is available only to PayPal business-account holders, while consumers there are excluded. PYUSD rewards are unavailable to users in Singapore and the U.K.
PYUSD is issued by Paxos Trust Company, N.A. PayPal describes its reserves as U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. The stablecoin launched in the United States in 2023 and is designed to maintain a value of $1. It is available through PayPal and Venmo.
