PayPal Expands Stablecoin Offering To 70 Countries Worldwide - PayPal Holdings (NASDAQ:PYPL)
- On Tuesday, PayPal announced expansion of its dollar-backed stablecoin PYUSD to users in 70 nations, enabling consumers to buy, hold, send, and receive the token directly through their PayPal accounts.
- Previously limited to United States and U.K. customers, PYUSD market capitalization has quintupled over the past year to $4.1 billion, reflecting surging demand for dollar-backed digital payments.
- Users in newly supported regions can earn rewards on stablecoin holdings, with existing U.S. holders earning 4% annually, improving liquidity for international transfers.
- May Zabaneh, senior vice president and head of crypto at PayPal, called the expansion "really powerful" for integrating stablecoins into payment networks across regions like Peru and Uganda.
- Global stablecoin markets have reached $312 billion, with competitors Tether's USDT at about $143 billion and Circle Internet's USDC at roughly $78 billion leading the sector.
37 Articles
37 Articles
PayPal expanded the availability of PayPal USD (PYUSD) to 70 markets within PayPal accounts. According to the company, this dollar-backed stable will allow funds to be sent globally with faster payouts and at a lower cost than traditional payment methods. The announcement focuses on a sensitive point for millions of users: remittances and cross-border transfers. According to PayPal, users in new compatible markets will be able to buy, maintain, …
PayPal Expands Stablecoin Offering To 70 Countries Worldwide - PayPal Holdings (NASDAQ:PYPL)
PayPal (NASDAQ:PYPL) is expanding its PYUSD stablecoin (CRYPTO: PYUSD) to 70 markets worldwide, enabling users to skip cross-border transfer fees and bank withdrawal requirements. The 70-Country Expansion Customers in 70 nations can now hold PYUSD in their PayPal wallets, up from only the U.S. and U.K. previously. The expansion includes Uganda, Colombia, Peru, Singapore, Guatemala, and new additions across South America, Africa, and Asia, Fortu…
PayPal expands PYUSD stablecoin to users in 70 countries
PayPal is rolling out its PYUSD stablecoin in 68 additional countries beyond the US and UK, aiming to reduce cross-border fees and offer rewards on holdings. Payments giant PayPal is expanding access to its US-dollar stablecoin, PayPal USD, adding 68 more markets globally in its latest stablecoin push. PayPal USD (PYUSD) will be made available to customers in 70 countries worldwide in March, allowing them to receive, hold and send the stablecoin…
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