PayPal Brings Its Dollar-Backed Stablecoin to 70 Markets, Including Africa
PayPal has announced the rollout of its dollar-backed stablecoin, PayPal USD (PYUSD), to users across 70 markets worldwide, including markets across Africa, marking a significant push by the payments giant to embed stablecoin infrastructure into mainstream commerce.
The expansion, announced on Tuesday, makes PYUSD available directly within the PayPal account, allowing users to buy, hold, send, and receive the digital currency. Users can also transfer funds to external digital wallets and convert PYUSD to local currency on withdrawal.
For African users, the move introduces a regulated, USD-pegged instrument for cross-border transactions — a market segment long constrained by high remittance fees, slow settlement windows, and fragmented payment rails.
“Bringing PYUSD to Africa is about delivering tangible value to the people and businesses driving growth in these dynamic markets,” said Otto Williams, Senior Vice President and General Manager for the Middle East and Africa at PayPal. He added that consumers stood to gain a flexible, stable mechanism for moving funds faster, while businesses could streamline cross-border payments and improve settlement timelines.
Beyond retail users, PayPal is positioning PYUSD as a working capital tool for merchants. Businesses that accept PYUSD can access proceeds within minutes rather than the days or weeks typical of traditional settlement cycles, a pitch that speaks directly to the cash flow pressures facing small and mid-sized enterprises operating across borders.
The company says faster access to funds can help businesses reduce reliance on conventional banking infrastructure, support cross-border operations, and cut foreign payment fees.
PYUSD was first launched in the United States in 2023. Tuesday’s announcement extends it across Africa, Asia-Pacific, Europe, Latin America, the Middle East, and North America, a footprint that PayPal frames as a necessary step toward building the liquidity and utility required for a more inclusive global payments ecosystem.
“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. “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.”
Eligible users can also earn rewards on PYUSD holdings, though specific terms vary by market.
The announcement comes as stablecoin adoption accelerates globally, with regulators in several jurisdictions, including within Africa, beginning to formalise frameworks for digital asset payments. PayPal’s expansion signals growing conviction among legacy fintech players that stablecoins are no longer a niche product, but a viable infrastructure layer for everyday commerce.
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