PayPal is expanding access to its US-dollar stablecoin, PayPal USD, to users in 70 countries starting in March. The rollout enables customers outside the U.S. and U.K. to receive, hold, and send PYUSD for the first time.
Users in newly supported markets-including Peru and Malawi-can now retain funds in USD within their PayPal wallets, bypassing forced local-currency conversions and high cross-border fees. The expansion also introduces yield on PYUSD balances and supports transfers to third-party digital wallets.
PYUSD is issued by Paxos Trust and launched in August 2023. It ranks as the seventh-largest USD-pegged stablecoin globally, with a $4.1 billion market cap-up 600% from early 2025.