PRESS RELEASE | PayPal Brings PYUSD Stablecoin to Users Across 70 Markets Worldwide and Expands Access in Africa

PayPal has announced it 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.”

“Bringing PYUSD to Africa is about delivering tangible value to the people and businesses driving growth in these dynamic markets,” said Otto Williams, Senior Vice President and General Manager of the Middle East and Africa, PayPal.

“Consumers gain a flexible, stable way to move funds faster, while businesses can streamline cross-border payments, improve settlement times, and unlock new opportunities for growth. By increasing access to a regulated, USD-backed digital currency, we’re breaking down barriers and helping reduce friction in global commerce across the region.”

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 transfer funds to friends and family, whether on PayPal or to third-party digital wallets, and
• can convert PYUSD to local currency when withdrawing funds 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 a lower cost while enabling businesses to settle faster, reduce foreign payment fees, and access proceeds more quickly.

PYUSD is now broadly available across multiple global regions, including Africa, Asia-Pacific, Europe, Latin America, The Middle East, and North America.

Want to keep up with the latest news on stablecoins developments?

Join our WhatsApp channel here.

Follow us on X for the latest posts and updates

Join and interact with our Telegram community

___________________________________________