Payment giant PayPal is significantly strengthening its position in the cryptocurrency market. The company announced that it will now make its dollar stablecoin PayPal USD (PYUSD) available to users in 70 countries worldwide. Previously, it was only available in the United States and the United Kingdom. According to the company, the expansion will bring cheaper cross-border transactions, faster access to funds, and a new opportunity to earn rewards for holding the stablecoin.
The expansion covers a total of 68 new markets across regions, including Europe, Latin America, Asia and the Pacific, and North America. Users with PayPal accounts in these countries will be able to not only receive and send PYUSD, but also hold it directly in their digital wallet.
According to May Zabaneh, the head of PayPal’s cryptocurrency division, this move has a fundamental impact on the availability of digital finance. “Making PYUSD available in 70 countries will enable people to access their funds faster, send money across borders more affordably, and participate more directly in the global economy,” she said.
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Cheaper Transfers and Greater Flexibility for Users
One of the main goals of the expansion is to reduce the costs of international transfers. In many countries, users could previously only withdraw funds in local currency, which meant additional fees for conversion.
For example, in Peru, users were forced to convert money to the domestic currency, which increased transaction costs. In other countries, such as Malawi, it was not even possible to hold funds directly on a PayPal account – the funds had to be immediately sent to the recipient’s bank account.
With the arrival of PYUSD, this model is fundamentally changing. Users will now be able to hold funds in U.S. dollars directly on their PayPal account, which eliminates some fees and provides greater flexibility in managing finances.
“It opens up the concept of account balance and also the opportunity to earn returns,” Zabaneh added. PayPal is indeed introducing a rewards system for holding the stablecoin alongside the expansion.
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Holding Rewards and External Wallet Support
Another new feature is the ability to earn rewards for holding PYUSD, which brings the stablecoin closer to conventional financial products. PayPal will also enable transfers of the stablecoin to external digital wallets of third parties, thereby expanding its use beyond its own ecosystem.
This move suggests the company’s effort to compete not only with traditional banks but also with other cryptocurrency platforms that already offer similar services.
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PYUSD Growing Among Top Stablecoins
Stablecoin PYUSD was launched in August 2023 in partnership with Paxos Trust, which handles its issuance. PayPal functions as the distribution platform and integrates the token into its global payment infrastructure.
Since its launch, PYUSD has experienced significant growth. According to CoinGecko data, it currently ranks among the world’s largest dollar stablecoins and holds seventh place with a market capitalization of approximately $4.1 billion.
2025 proved to be a breakthrough year for PYUSD – its market value grew from approximately $500 million at the beginning of the year to roughly $3.6 billion by the end, representing an increase of more than 600%.
Stablecoins as a Bridge Between Traditional Finance and Crypto
The expansion of PYUSD confirms a broader trend where stablecoins are gaining an increasingly important role in global finance. By being pegged to the U.S. dollar, they offer stability while retaining the benefits of cryptocurrencies, such as transaction speed or lower costs.
With this move, PayPal is attempting to strengthen its position at the intersection of traditional banking and digital assets. For everyday users, this means simpler access to dollar payments and new ways to manage their finances across borders.
The expansion to dozens of new countries could thus be one of the key moments that will push stablecoins closer to mainstream adoption.
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