PayPal expands PYUSD stablecoin access to 70 markets
PayPal is now allowing customers in 70 markets, including Colombia and Peru, to buy, hold, send, and receive its stablecoin, PYUSD.Summary
PayPal announced the expansion of access to its U.S. dollar-pegged stablecoin, PayPal USD (PYUSD), to customers in 70 markets, including new regions like Colombia, Costa Rica, Peru, and Singapore. While users in most new regions can earn rewards on their holdings, Singapore users will only have access for business accounts, and rewards are unavailable in Singapore and the UK. Launched in the U.S. in mid-2023, PYUSD is now available across multiple blockchains. This expansion aims to provide users with faster access to funds and lower-cost cross-border transfers, enabling quicker settlement for businesses accepting the stablecoin. The move coincides with PYUSD's market capitalization growing significantly to $4.12 billion, though it remains a small fraction of the overall stablecoin market dominated by USDT and USDC.
(Source：The Block)