PayPal's PYUSD stablecoin now reaches roughly 70 markets worldwide, with Kraken preparing to list the token as the payments giant pushes into agentic payments and blockchain settlement.
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PayPal expands PYUSD stablecoin to 70 markets as Kraken adds roadmap
PayPal's PYUSD stablecoin has expanded to roughly 70 markets globally, and Kraken plans to list the token as the payments company deepens its push into blockchain-based settlement and agentic payments.
"PayPal's expansion of PYUSD reflects our commitment to building the infrastructure for the next generation of payments," a company spokesperson said.
The stablecoin, issued on Ethereum and Solana, has reached users across approximately 70 jurisdictions since its launch, according to PayPal. The company is prioritizing three areas for its digital currency strategy: agentic payments — where AI agents initiate transactions autonomously — digital identity verification, and broader blockchain settlement infrastructure.
The expansion positions PYUSD to compete with market leaders USDT and USDC, which command a combined market cap of more than $170 billion, per CoinGecko. A Kraken listing would provide PYUSD with access to one of the largest crypto exchanges by volume, potentially boosting liquidity and adoption among retail and institutional traders.
PayPal first launched PYUSD in August 2023 as a dollar-pegged stablecoin backed by US dollar deposits, Treasuries, and cash equivalents. The token has since integrated with multiple DeFi protocols and payment platforms, though it has trailed far behind Tether's USDT and Circle's USDC in market share.
The Kraken listing roadmap signals growing exchange appetite for alternative stablecoins beyond the dominant pair. Kraken, which already supports USDT and USDC across multiple trading pairs, has not disclosed a specific timeline for PYUSD availability.
For PayPal, the stablecoin push represents a strategic hedge against traditional payment rails. By settling transactions on-chain, the company reduces reliance on card networks and correspondent banking infrastructure, potentially lowering costs for cross-border payments. The agentic payments focus also positions PYUSD for the emerging AI-commerce sector, where autonomous agents may require programmable money to execute transactions.
This article is for informational purposes only and does not constitute investment advice.
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