PayPal's PYUSD stablecoin expands to 70 markets, supply hits $4 billion
In brief
- PayPal expanded PYUSD to 70 markets including Colombia, Peru, Uganda, and Singapore on March 17.
- PYUSD circulating supply quadrupled to $4 billion from $1 billion since August 2025.
- Blockchain-based PYUSD cuts remittance costs (5–10% typical) and settlement times versus traditional channels.
- PayPal offers rewards on PYUSD holdings in new markets; Singapore and UK excluded.
Rapid expansion and supply growth
PYUSD's circulating supply now exceeds $4 billion, roughly quadrupling from approximately $1 billion in August 2025. The expansion covers a geographically diverse set of markets including Colombia, Costa Rica, Peru, Uganda, and Singapore.
Users in these regions can now buy, hold, send, and receive PYUSD directly through their existing PayPal accounts. They can transfer to external wallets or convert to local currencies — options that broaden the stablecoin's utility beyond PayPal's own ecosystem.
Cross-border remittances and cost reduction
The expansion targets a real pain point in global finance. Sending money across borders through conventional channels often means paying fees of 5% to 10% and waiting several business days for settlement.
PYUSD transactions settle on blockchain rails, which can reduce both cost and time dramatically. That efficiency matters most to users in emerging markets where remittances represent a significant share of household income.
PayPal is also offering an incentive that traditional remittance services can't match: rewards on PYUSD holdings in many new markets. Singapore and the UK are notably excluded from the rewards program.
Regulatory foundation
The stablecoin is issued by Paxos, which operates under federal regulatory oversight. That regulatory backing distinguishes PYUSD from many other stablecoins and likely contributed to its rapid adoption — reaching seventh place by market cap in less than a year.
