PayPal's PYUSD stablecoin is now available in 70 markets globally as of March 2026, the company confirmed. The market capitalisation of PYUSD reached about $4.1 billion by March 2026, up from roughly $1.2 billion in September 2025, a rise of more than three times over a period of roughly six months; PYUSD expanded cross-chain via LayerZero in September 2025.
The supply increase from approximately $1.2 billion to $3.8 billion between September and early December 2025 was driven mainly by PayPal-backed DeFi incentives, including yield on Solana-based lending protocols such as Kamino.
COMPETITORS
PYUSD competes with Tether's USDT and Circle's USDC, both of which have larger market capitalisations.
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