PayPal is expanding access to its dollar-pegged stablecoin PYUSD to 70 countries across South America, Africa, and Asia. Previously, only US and UK users could hold it.
Users can now send, receive, store, and earn rewards on PYUSD-US customers earn approximately 4% annual yield.
The expansion reduces cross-border transaction fees and lets users hold digital USD balances instead of converting to volatile local currencies. Funds no longer require immediate withdrawal; wallet balances are now supported.
PYUSD enables transfers like those from the US to Peru, business payouts, and internal corporate transfers.
Since its 2023 launch, PYUSD’s market cap has grown to $4.1 billion-ranking seventh globally among stablecoins.