PayPal has announced it is making its dollar‑backed stablecoin available to users in 70 markets worldwide.

The payments company said that users can send PayPal USD (PYUSD) directly from their PayPal account and convert PYUSD to local currency when using funds for everyday spending.

Eligible users can earn rewards on their PYUSD holdings and can instantly transfer funds to friends and family through PayPal or to third‑party digital wallets.

PayPal said that businesses accepting PYUSD can access proceeds in minutes rather than days or weeks, which it claims will improve liquidity and reduce reliance on traditional settlement cycles.

The company added that faster access to funds can help businesses manage working capital, support cross‑border operations, and participate in global commerce.

PayPal launched PYUSD in the United States in 2023 and said this expansion to more markets will help to increase the liquidity and ubiquity of PYUSD.

"Consumers and businesses around the world are looking for faster, more seamless ways to transact globally and the current system still charges too much, takes too long, and settles on timelines that were designed for a different era," said May Zabaneh, senior vice president and general manager of crypto at PayPal. "We are working to change that. Enabling PYUSD in users' accounts across 70 markets gives people faster access to their funds, lower‑cost ways to send money across borders, and a more direct path to participating in the global economy, and that is what drives commerce forward for everyone."

Last September, PayPal Ventures announced it had participated in a funding round for Stable, a layer 1 blockchain network designed to facilitate financial transactions through stablecoins.

Through the partnership, Stable users will be able to use PYUSD, a stablecoin issued by PayPal and pegged to the US dollar, for financial transactions.

The company will also explore efforts to provide cross‑chain compatibility and on‑ramp/off‑ramp capabilities for PYUSD, which could unlock new use cases for the stablecoin across different blockchain ecosystems.

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