PayPal is accelerating its global digital payments strategy by expanding access to its U.S. dollar-backed stablecoin, PayPal USD (PYUSD), across 70 international markets, including Africa, as competition intensifies in the race to modernize cross-border commerce.
The move positions the payments giant deeper inside the rapidly evolving stablecoin economy, where financial technology firms are increasingly challenging traditional banking systems by offering faster settlements, lower transaction costs and near-instant international transfers.
With the rollout, millions of PayPal users and merchants across Africa, Asia-Pacific, Europe, Latin America and the Middle East can now buy, hold, send and receive PYUSD directly through their PayPal accounts.
The expansion marks one of the largest mainstream deployments of a regulated stablecoin by a global payments company and signals how digital dollar-based assets are moving beyond crypto trading into everyday commercial use.
“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 designed for a different era,” said May Zabaneh, PayPal’s Senior Vice President and General Manager of Crypto.
“We are working to change that,” she added.
For African markets, the launch could have particularly significant implications.
Cross-border payments across the continent remain among the most expensive globally, with businesses and individuals often facing high remittance fees, currency conversion costs and settlement delays that can stretch for days. By enabling dollar-backed digital transfers within the PayPal ecosystem, PYUSD aims to reduce friction in international commerce while improving access to global financial networks.
“Bringing PYUSD to Africa is about delivering tangible value to the people and businesses driving growth in these dynamic markets,” said Otto Williams, PayPal’s Senior Vice President and General Manager for the Middle East and Africa.
He said businesses using PYUSD could improve liquidity management, accelerate settlement times and reduce dependency on slower traditional payment rails.
The rollout also reflects a broader transformation taking place inside the global financial system as stablecoins increasingly emerge as an alternative layer for moving money internationally. Unlike volatile cryptocurrencies, stablecoins are typically pegged to fiat currencies such as the U.S. dollar, allowing users to access blockchain-based speed without exposure to major price swings.
PYUSD, launched in the United States in 2023 and issued by Paxos Trust Company, is fully backed by U.S. dollar deposits, Treasuries and cash equivalents.
Under the new expansion, eligible users in supported markets can transfer PYUSD to friends and family, move funds to compatible digital wallets and convert balances into local currencies for spending or withdrawals.
For merchants, the implications are increasingly commercial rather than experimental.
Businesses accepting PYUSD can access sales proceeds within minutes instead of waiting days or weeks for conventional international settlements — a shift that could materially improve working capital management for exporters, freelancers and digital-first enterprises operating across borders.
The expansion also places PayPal in direct competition with both traditional remittance operators and emerging blockchain payment networks seeking dominance in the fast-growing digital dollar economy.
As regulators globally move toward clearer crypto frameworks, PayPal appears to be betting that stablecoins will become less of a niche financial product and more of a foundational layer for the future of global commerce.