PayPal's stablecoin (~$4.1B market cap). Expanded to 70 markets in Mar 2026. Paxos-issued.
Overview
Ticker
PYUSD
Backing type
Fiat-backed
Market cap
$700M+
Peg currency
USD
Issuer
Paxos Trust (issued for PayPal)
Auditor
WithumSmith+Brown
Yield rate
—
Launch year
2023
Reserves
US Treasuries, cash, cash equivalents at regulated US banks
Supported Chains
EthereumSolana
Regulatory
MiCA compliant
No
Jurisdiction
United States (New York)
NY DFS regulated (via Paxos Trust)PayPal state money transmitter licenses
Features
Programmable—
Rebaseable—
Permissioned—
Cross-chain✓
DeFi integrated✓
Institutional grade✓
Use Cases
Retail commerce via PayPal/VenmoConsumer paymentsMerchant settlementOn/off ramp for PayPal users