Otto Williams, PayPal’s Senior Vice President and General Manager for the Middle East and Africa.
Global payments giant PayPal has officially expanded its dollar-backed stablecoin, PayPal USD (PYUSD), to 70 international markets, including countries across Africa, Asia-Pacific, Europe, Latin America, the Middle East and North America.
The move marks a significant step in the global adoption of regulated digital currencies and could reshape how consumers and businesses in Africa conduct cross-border transactions.
For Rwanda and the wider East African region, where digital financial services and technology-driven commerce continue to grow rapidly, the rollout introduces a new channel for participating in global trade with potentially faster settlement times and lower transaction costs.
Faster, Cheaper Cross-Border Transactions
PayPal says PYUSD will allow users to buy, hold, send and receive funds globally using a stable digital asset pegged to the U.S. dollar.
According to the company, users will be able to transfer funds seamlessly to friends, family members and third-party digital wallets, while also converting PYUSD into local currencies for daily spending and withdrawals.
The company says the stablecoin is designed to address long-standing challenges associated with traditional international payment systems, including high transfer fees and lengthy settlement periods.
“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 that were designed for a different era,” said May Zabaneh, Senior Vice President and General Manager of Crypto at PayPal.
“We are working to change that,” she added.
For businesses, particularly small and medium enterprises engaged in international trade, the stablecoin could significantly improve cash flow management by reducing the waiting period associated with traditional wire transfers.
Instead of waiting several days for cross-border payments to clear, merchants using PYUSD could gain access to transaction proceeds within minutes, improving liquidity and easing dependence on legacy banking settlement systems.
Growing Relevance for Africa
The expansion is being viewed as a notable development for African markets, where businesses often face barriers accessing stable financial instruments and efficient global payment systems.
By introducing a regulated, U.S. dollar-backed digital currency, PayPal aims to reduce friction in international commerce while improving access to global markets for local entrepreneurs and online merchants.
Otto Williams, PayPal’s Senior Vice President and General Manager for the Middle East and Africa, said the company’s expansion strategy is focused on delivering practical financial solutions for fast-growing economies.
“Bringing PYUSD to Africa is about delivering tangible value to the people and businesses driving growth in these dynamic markets,” Williams said.
“By increasing access to a regulated, USD-backed digital currency, we’re breaking down barriers and helping reduce friction in global commerce across the region,” he added.
The launch comes at a time when African economies are increasingly embracing fintech innovation, mobile money ecosystems and digital commerce solutions to expand financial inclusion and support regional trade integration.
Built on a Regulated Framework
PayPal says PYUSD operates within a fully regulated structure as governments and regulators worldwide continue tightening oversight of digital assets and cryptocurrency-related services.
The stablecoin is issued by Paxos Trust Company, N.A., a fully chartered trust company regulated by the Office of the Comptroller of the Currency (OCC) in the United States.
According to PayPal, PYUSD reserves are fully backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents, with the asset maintaining a strict 1:1 peg to the U.S. dollar.
The company also maintains a Virtual Currency Business Activity license issued by the New York State Department of Financial Services.
With operations spanning roughly 200 markets globally over the past 25 years, PayPal says the latest expansion reflects its broader ambition to mainstream stablecoins for everyday commercial use and strengthen access to the global digital economy.
