In brief: PayPal extends its PYUSD stablecoin to 70 markets

PayPal announces the opening of its stable PYUSD 70 new markets via PayPal accounts. Users in these regions can now purchase, hold, send and receive this digital dollar directly from their PayPal portfolio, with the possibility to convert the funds into local currency upon withdrawal.

This extension aims to provide faster and cheaper international transfers than traditional solutions. PayPal also highlights almost immediate access to funds for businesses, in order to improve their cash flow and reduce cross-border settlement times.

The initiative follows the initial deployment of PYUSD in the United States in 2023 and seeks to strengthen its liquidity and use within a regulated framework, with stablecoin issued by Paxos and fully backed by dollar assets.

PayPal is planning a gradual deployment in all the regions mentioned (i.e. Colombia, Costa Rica, the Dominican Republic, the Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore (business accounts only), the United Kingdom and the United States), with already effective availability in several countries in Europe, Asia-Pacific and Latin America.

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