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PayPal on Wednesday announced that it is making PayPal USD available in 70 markets worldwide through PayPal accounts. The dollar-backed stablecoin is intended to help users send funds globally with faster settlement and at lower cost than traditional payment methods.

The company said the expansion reflects growing demand from consumers and businesses for faster, more seamless cross-border transactions as commerce becomes increasingly digital. It added that stablecoins such as PYUSD can help support a more inclusive, efficient, and lower-cost global payments system.

“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,” said May Zabaneh, Senior Vice President and General Manager of Crypto at PayPal.

By expanding access to a regulated, U.S. dollar-backed digital currency, PayPal said it aims to reduce friction in global commerce and broaden access to cross-border payment tools in newly supported markets.

Users in newly supported markets can buy, hold, send, and receive PYUSD directly from their PayPal accounts. Eligible users can also earn rewards on their holdings, transfer funds to friends and family on PayPal or to third-party digital wallets, and convert PYUSD to local currency when withdrawing funds for everyday spending, subject to availability and applicable terms.

PayPal said businesses that accept PYUSD can access proceeds in minutes rather than days or weeks, improving liquidity and reducing reliance on traditional settlement cycles. Faster access to funds, the company said, can help businesses manage working capital, support cross-border operations, and participate more effectively in global commerce.

PYUSD was launched in the United States in 2023. PayPal said the latest expansion marks another step in building the liquidity, utility, and reach of the stablecoin as part of a broader effort to support a more inclusive global commerce ecosystem.

PYUSD is now available across multiple regions, including Africa, Asia-Pacific, Europe, Latin America, the Middle East, and North America.

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