US-based financial technology company PayPal (NASDAQ: PYPL) is making PayPal (PYUSD) available in 70 markets worldwide in the PayPal account, the company said.

This dollar-backed stablecoin enables users to send funds globally, with faster settlement and lower cost than traditional payment methods.

As global commerce becomes increasingly digital, individuals and businesses are looking for faster and more seamless ways to transact across borders.

Stablecoins like PYUSD help power an inclusive, fast, lower cost, global commerce system.

Users in newly supported markets can buy, hold, send, and receive PY directly from their PayPal account.

Additionally, eligible users can earn rewards on their PY holdings², can instantly transfer funds to friends and family, whether on PayPal or to third-party digital wallets, and convert PY to local currency when withdrawing funds³ for everyday spending.

Businesses that accept PY can use proceeds in minutes rather than days or weeks, improving liquidity and reducing reliance on traditional settlement cycles.

Faster access to funds can help businesses manage working capital, support cross-border operations, and participate in global commerce.

Following the launch of PYUSD in the United States in 2023, this expansion is another critical step in creating the liquidity, utility, and ubiquity of PY necessary to create a more inclusive, global commerce ecosystem.

By making it available in more places through PayPal, PYUSD helps consumers send funds internationally at lower cost, while enabling businesses to settle faster, reduce foreign payment fees, and access proceeds more quickly.

PYUSD, a US federally regulated stablecoin, is now available to users in their PayPal accounts across multiple global regions, including Asia-Pacific, Europe, Latin America, and North America.

This includes Colombia, Costa Rica, Dominican Republic, Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore, the United Kingdom, and the United States. PayPal users in the remaining markets will have access to PY in the coming weeks.

PayPal is issued by Paxos Trust company, N.A., a fully-chartered trust company regulated by the Office of the Comptroller of the Currency.

Reserves for PayPal are fully backed by US dollar deposits, US Treasuries and similar cash equivalents, and PayPal can be bought or sold through PayPal and Venmo at a rate of USD 1.00 per PayPal.