PayPal expanding PYUSD stablecoin access to 70 countries: Report
Crypto Briefing
PayPal is expanding access to its PYUSD stablecoin to 70 new countries across South America, Africa, and Asia.Summary
PayPal is significantly expanding the availability of its stablecoin, PYUSD, to 70 countries spanning South America, Africa, and Asia, a major increase from its previous availability only in the US and UK. This expansion allows users in these new regions to send, receive, and store PYUSD, potentially earning rewards, while also reducing high cross-border transaction fees. The stablecoin enables users to maintain balances in a USD-pegged asset rather than immediately converting to local currencies, facilitating cross-border payments like transfers from the US to Peru. Since its 2023 launch, PYUSD has grown to a $4.1 billion market cap, making it the seventh-largest stablecoin globally.
(Source：Crypto Briefing)