Just in: PayPal (PYPL) Stablecoin PYUSD Goes Live in 70 Countries

Payment giant PayPal PYPL -2.95% ▼ has expanded the reach of its dollar-backed stablecoin, PYUSD, making it available across 70 countries in a major step toward global adoption.

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The move significantly widens access beyond its initial launch markets, the United States and United Kingdom, bringing the stablecoin to users across Asia-Pacific, Europe, Latin America, and North America. PayPal also noted that additional markets within its nearly 200-country network will gain access in the coming weeks.

PayPal Expands PYUSD Access Across Key Markets

The newly supported countries include Colombia, Costa Rica, the Dominican Republic, Greenland, Guatemala, Honduras, Panama, Peru, and Singapore. However, access in Singapore is currently limited to business account holders, while users in both Singapore and the UK will not be eligible for rewards on PYUSD holdings for now.

For users in these regions, PYUSD offers straightforward utility within the PayPal ecosystem. It can be bought, held, sent, and received directly in-app, transferred to external digital wallets, or converted into local currency at withdrawal.

Eligible users may also earn rewards on their holdings, adding an incentive layer to adoption, though this feature remains unavailable in select regions as PayPal continues to refine its rollout strategy.

PYUSD Implements Faster Payments and Institutional Backing

For businesses, PYUSD introduces a faster alternative to traditional cross-border cryptocurrency payment systems. Merchants accepting the stablecoin can receive settlements within minutes, reducing delays that often span days to weeks in conventional financial systems.

The stablecoin is issued by Paxos Trust Company and is overseen by the Office of the Comptroller of the Currency (OCC). It is fully backed by U.S. dollar deposits, Treasury assets, and similar cash equivalents, ensuring each token maintains a fixed value of one dollar.

Is PayPal a Buy, Sell, or Hold?

Shares of PayPal are seeing renewed interest following the global expansion of its PYUSD, but sentiment remains mixed. While the recent expansion strengthens PayPal’s long-term position in digital payments, the immediate impact on revenue is still uncertain. For now, Wall Street analysts tracked by TipRanks largely lean toward a “Hold” rating for the stock as the market watches its performance following the company’s weak earnings report and an ongoing lawsuit.

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