Overview
- Access expands from the U.S. and U.K. to 70 markets, enabling eligible users to buy, hold, send and receive PYUSD, move it to external crypto wallets, or convert balances to local currency on withdrawal.
- PayPal says PYUSD lowers costs and accelerates settlement, with merchants able to access proceeds in minutes rather than waiting days on traditional payment rails.
- The rollout eases prior country restrictions by allowing dollar‑denominated balances in the PayPal wallet, addressing cases like Malawi’s forced bank withdrawals and reducing FX friction for users in places such as Peru.
- PYUSD is issued by Paxos and backed 1:1 by U.S. dollar deposits and short‑term Treasuries under U.S. regulatory oversight.
- Features are being phased by market, with rewards available in many countries while exclusions apply in some jurisdictions such as Singapore and the U.K., and PayPal says more markets will follow in the coming weeks.