PayPal Expands Dollar-Backed Stablecoin PYUSD to 70 New Countries in Major Global Push

PayPal has launched its U.S. dollar-pegged stablecoin PYUSD in 70 new countries across South America, Africa, and Asia, dramatically expanding access beyond its initial U.S. and U.K. user base. The move, announced by Senior Vice President May Zabaneh, enables customers in markets like Uganda, Colombia, and Peru to hold PYUSD directly in their PayPal accounts and earn rewards on balances, mirroring the 4% annual yield offered in the United States.

Investors sue over earnings miss and CEO departure

The upbeat announcement comes while the company is navigating serious legal pressure. A class action suit has been filed against PayPal Holdings on behalf of investors who bought shares between February 25, 2025, and February 2, 2026.

At the center of the case is a weak earnings report covering the fourth quarter and full year 2025, which PayPal published on February 3, 2026. That same day, the company’s chief executive left.

The stock dropped 20% in one trading session, taking more than $9 billion off PayPal’s market value. National law firm Hagens Berman is looking into whether the company violated federal securities laws and is calling on investors who lost money to report their losses.

PayPal to block new Google Wallet links in Germany

There is also a change coming for PayPal users in Germany who pay in stores through Google Wallet. From March 31, 2026, no new PayPal accounts can be connected to Google Wallet there.

Anyone who already has the link set up can keep using it, but the moment they change phones, reset their device, or break the connection in any way, it cannot be put back together. PayPal has stayed quiet on the reasons, but people following the payments industry think the company is angling to get customers using its own app for contactless purchases going forward.

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