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Rank #5PYUSDFiat-Backed
PayPal USD
Pegged to
USD
Market Cap
$800.00M
24h Volume
$100.00M
Circulating Supply
800.00M PYUSD
Total Supply
800.00M PYUSD
Peg Target
USD
Collateral Type
Fiat-Backed
Issuer
Paxos Trust Company
Launch Date
07-08-2023
About PayPal USD
PayPal USD (PYUSD) is a regulated stablecoin issued by Paxos Trust Company on behalf of PayPal. Backed 1:1 by US dollar deposits, short-term US Treasuries, and cash equivalents, PYUSD is available to PayPal's 400+ million users for payments, transfers, and crypto trading. It is the first stablecoin issued by a major fintech company and is regulated by the New York Department of Financial Services (NYDFS). PYUSD expanded to Solana in 2024 for faster and cheaper transactions, positioning itself as a bridge between traditional payments and blockchain-based finance.
Pros
- Massive distribution via PayPal network
- Strong regulatory compliance (NYDFS)
- Monthly attestation by independent auditor
- Integration with existing payment rails
Cons
- Relatively low DeFi adoption
- Centralised with freeze capability
- Limited exchange listings outside PayPal
- Newer stablecoin with evolving adoption
Key Features
Issued by NYDFS-regulated Paxos
Available to 400M+ PayPal users
Monthly reserve attestation reports
Integrated into PayPal and Venmo apps
Available on Ethereum and Solana
Backed by US Treasuries and cash
Stablecoin Information
Category
Fiat-BackedCollateral Type
Fiat-BackedIssuer
Paxos Trust Company