PayPal has expanded its dollar-pegged PYUSD stablecoin from the United States and the United Kingdom to eligible users across 70 markets. The March 17 announcement includes Colombia, Costa Rica, Peru, Uganda and Singapore. Users can buy, hold, send and receive PYUSD through their existing PayPal accounts, transfer it to external wallets or convert it into local currencies. PYUSD is issued by Paxos, which operates under federal regulatory oversight. Its circulating supply has risen to more than $4 billion, roughly four times the approximately $1 billion recorded in August 2025, making it the seventh-largest stablecoin by market capitalization. Stablecoins are digital assets designed to maintain a stable value against a reference currency, in this case the U.S. dollar. PYUSD transactions settle on blockchain rails, potentially reducing the fees and delays associated with conventional cross-border transfers, which can cost 5% to 10% and take several business days. PayPal also offers rewards on PYUSD holdings in many newly supported markets, although the program excludes Singapore and the United Kingdom.