Gambiaj.com – (BANJUL, The Gambia) – PayPal has expanded access to its U.S. dollar-backed stablecoin, PayPal USD (PYUSD), to eligible users in 27 African markets, marking a significant step in the company’s push to make cross-border payments faster, cheaper, and more accessible across the continent.
The rollout includes countries such as Côte d’Ivoire, Rwanda, Uganda, Senegal, Zambia, and Malawi, bringing the total number of markets where PYUSD is available to 70 worldwide. The expansion comes as African economies continue to accelerate the adoption of digital payments and financial technologies aimed at improving financial inclusion.
Otto Williams, Senior Vice President and Global Head of Payment Partnerships at PayPal, said the latest expansion is designed to give eligible users more options to buy, hold, send, and receive PYUSD through their PayPal accounts, subject to local regulations and product availability.
“We see this as another step towards making cross-border commerce more accessible,” Williams said in an interview.
Focus on Cross-Border Commerce
PayPal did not disclose how many users it expects to reach in the newly supported African markets, but Williams said the expansion is intended to improve participation in the global digital economy for both individuals and businesses.
For consumers, he said, PYUSD provides greater flexibility in managing and transferring money internationally. Eligible users can buy, hold, send, and receive the stablecoin through PayPal; transfer it to friends and family or supported third-party digital wallets; and, where permitted, earn rewards on their PYUSD holdings.
Businesses, meanwhile, stand to benefit from faster settlement times, which can improve cash flow by reducing delays in accessing funds. Williams said lower cross-border payment costs could also make it easier for African businesses to serve international customers and expand into global markets.
“PYUSD is designed to give businesses greater flexibility in managing payments while helping simplify cross-border transactions,” he said.
Stablecoins Gain Momentum
The expansion comes as stablecoins – digital assets designed to maintain a stable value by being pegged to traditional currencies – are gaining traction as tools for international payments.
Williams said PayPal views stablecoins as an important component of the future of digital commerce because they offer consumers and businesses more choice in how they move and manage money.
He said PYUSD complements PayPal’s existing payment services by enabling faster, lower-cost cross-border transactions while supporting a more inclusive global commerce ecosystem.
As more consumers and businesses embrace digital financial services, he added, stablecoins have the potential to improve access to international markets and make global payments more seamless.
Competition in Africa’s Digital Payments Space
Africa has become an increasingly competitive market for digital payment providers, with local fintech companies and global financial firms racing to develop faster and more affordable cross-border payment solutions.
Williams said PayPal believes the continent’s digital payments ecosystem has matured to a point where demand for more efficient international payment options is growing rapidly.
Rather than replacing existing innovations, he said, PYUSD is intended to complement them by combining PayPal’s global payments network with a regulated U.S. dollar-backed stablecoin.
“We’re making it easier for consumers and businesses to participate in global commerce through faster and more seamless cross-border transactions,” he said.
Compliance and Cost Transparency
PayPal said regulatory compliance remains central to its expansion strategy, noting that the company operates in approximately 200 markets worldwide under the legal and regulatory frameworks of each jurisdiction.
Williams said the rollout of PYUSD follows the same approach, with the product introduced only where it complies with local requirements.
On affordability, he said buying or selling PYUSD in U.S. dollars is free, while there are no fees for sending or receiving the stablecoin between PayPal and Venmo accounts.
However, users may incur currency conversion charges when transactions involve other currencies, while transfers to external cryptocurrency wallets remain subject to applicable blockchain network fees.
Long-Term Vision
Looking ahead, Williams said PayPal sees PYUSD as a central part of its long-term strategy for Africa.
He said the company intends to strengthen everyday use of the stablecoin as adoption increases, offering customers more ways to send, receive, and manage funds while supporting broader efforts to make global commerce more inclusive.
“As adoption grows, this expansion will help strengthen the everyday use of PYUSD, supporting our broader goal of making global commerce more accessible for consumers and businesses around the world,” Williams said.
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