BY GCWALISILE MHLABANE
MBABANE– Global digital payments giant PayPal has announced a major expansion of its US dollar-backed stablecoin PayPal USD (PYUSD), rolling it out across 70 markets worldwide, with Africa included in the latest phase of adoption.
The move is expected to strengthen cross-border payments, reduce transaction costs, and improve access to stable digital currency for individuals and businesses across emerging markets.
The expansion, announced on May 20, 2026, allows users to buy, hold, send, and receive PYUSD directly within their PayPal accounts, marking a significant milestone in the company’s push to modernize global payments.
PayPal USD (PYUSD) is designed to maintain a stable 1:1 value with the US dollar. It is fully backed by US dollar deposits, US Treasuries, and similar cash equivalents, and is issued by Paxos Trust Company under regulatory supervision.
PayPal’s inclusion of Africa in the PYUSD expansion is expected to have significant implications for digital financial access across the continent, where cross-border payments often remain costly and slow.
Otto Williams, Senior Vice President and General Manager for the Middle East and Africa at PayPal, said the expansion is aimed at improving real-world financial outcomes for users and businesses.
“Bringing PYUSD to Africa is about delivering tangible value to the people and businesses driving growth in these dynamic markets,” Williams said. “Consumers gain a flexible, stable way to move funds faster, while businesses can streamline cross-border payments, improve settlement times, and unlock new opportunities for growth.”
May Zabaneh, Senior Vice President and General Manager of Crypto at PayPal, said the global payments system needs modernization to match today’s digital economy.
“Consumers and businesses around the world are looking for faster, more seamless ways to transact globally,” she said. “The current system still charges too much, takes too long, and settles on timelines designed for a different era.”
With PYUSD now available across 70 markets, users gain faster access to funds and improved efficiency in international money transfers.
Users in supported markets can use PYUSD to send and receive money globally, transfer funds to digital wallets, and convert holdings into local currency for everyday spending.
Eligible users may also earn rewards on their PYUSD balances, while businesses benefit from faster settlement times—often receiving funds in minutes rather than days.
This improved liquidity can help businesses manage cash flow more effectively, particularly those engaged in international trade, e-commerce, and freelance digital services.
Since its initial US launch in 2023, PYUSD has been gradually expanded as part of PayPal’s long-term strategy to build a more inclusive global financial ecosystem.
The latest rollout spans Africa, Asia-Pacific, Europe, Latin America, the Middle East, and North America, reflecting growing global adoption of stablecoin-based payment systems.
For developing markets across Africa, the expansion represents a shift toward faster, more affordable, and more accessible digital financial services.
PayPal says PYUSD is designed to support a global commerce system where money moves as easily as information, reducing barriers to trade and financial participation.
As stablecoins gain momentum worldwide, the expansion into 70 markets marks a significant step toward more connected and efficient global payments.
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(Courtesy Pic)
