PayPal is expanding its PYUSD stablecoin into Uganda and Malawi, betting that faster digital dollar transfers can help it gain ground in Africa’s growing cross-border payments market.
- PayPal is expanding its PYUSD stablecoin into Uganda and Malawi, betting that faster digital dollar transfers can help it gain...
- The company announced recently that users in both countries can now buy, hold, send, and receive the PYUSD stablecoin directly...
- PayPal pushes deeper into Africa The PYUSD stablecoin is issued by Paxos Trust Company and backed by US dollar deposits, short-term...
- Noah also teamed up with Nafolo to roll out virtual stablecoin accounts for remote workers.
Keep reading for the full breakdown on blockchain payments — everything you need to know is covered below.
The company announced recently that users in both countries can now buy, hold, send, and receive the PYUSD stablecoin directly from their PayPal accounts.
The rollout is part of a wider expansion that pushed PYUSD into 70 countries globally as PayPal deepens its stablecoin adoption outside the United States.
PayPal pushes deeper into Africa
The PYUSD stablecoin is issued by Paxos Trust Company and backed by US dollar deposits, short-term US Treasuries, and similar cash equivalents.
“Bringing PYUSD to Africa is about delivering tangible value to the people and businesses driving growth in these dynamic markets,” said Otto Williams, senior vice-president and general manager for the Middle East and Africa at PayPal.
“Consumers gain a flexible, stable way to move funds faster, while businesses can streamline cross-border payments, improve settlement times, and unlock new opportunities for growth.”
The company’s move comes as African fintechs and global payment firms race to build stablecoin payment systems across the continent.
Earlier this year, Noah partnered with Payd to launch stablecoin-backed USD and EUR accounts for African professionals. Noah also teamed up with Nafolo to roll out virtual stablecoin accounts for remote workers.
In late 2025, Visa partnered with Aquanow on stablecoin settlement services.
What PayPal brings is scale. The company already has more than 200 million active accounts globally, giving PYUSD access to a user base many African fintech startups cannot easily match.
PayPal tries a different Africa play
The PYUSD rollout in the two East African countries comes months after PayPal faced criticism over its expansion plan in Africa.
When the company introduced PayPal World in Nigeria back in 2025, many users said that local fintech platforms such as Flutterwave, Paystack, and Chipper Cash already offered faster and more flexible payment options.
This time, PayPal is going through another approach, using stablecoins instead of another consumer payments app. Using PYUSD, the company is targeting cross-border transfers, an area where demand for faster dollar-based payments continues to grow among African businesses, freelancers, and remote workers.
The move also puts them into direct competition with African fintech startups that have spent the past few years building stablecoin products tailored to local users.