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.

Supported Blockchains

Ethereum Solana

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

Community & Socials

Website Twitter / X