PayPal USD

PayPal USD is a stablecoin issued by Paxos Trust Company and associated with the PayPal payments network, designed to hold a value of one US dollar at all times. Its stated purpose is to make digital payments simpler and more predictable by removing the price volatility associated with most cryptocurrencies. It is aimed at individuals and businesses who want to move dollars through digital rails without exposure to fluctuating asset prices.

Each PYUSD token is backed by US dollar deposits, short-term US Treasury securities, and similar cash equivalents held by Paxos Trust Company, and is redeemable directly for one US dollar. The token exists across several blockchains simultaneously, including Ethereum, Solana, Polygon, Arbitrum, Starknet, and Stellar, meaning settlement mechanics depend on whichever underlying network processes a given transaction. No consensus algorithm is recorded for PYUSD itself because it is a token rather than a base-layer protocol, so the confirmation speed and finality rules of each host chain govern how quickly transfers settle.

The data stored for PayPal USD does not include a protocol fee stream, which means measures such as fee revenue, fee yields, or fee-based valuations that appear elsewhere on this site are not applicable here. Paxos Trust Company, as issuer, earns yield on the reserve assets backing the token, but that revenue accrues to the issuer rather than flowing to token holders or being captured in on-chain metrics. The circulating stablecoin supply recorded point-in-time stands at 2,753,311,824.49 PYUSD, and the 30-day change in that supply figure is 1.713605 percent, which reflects issuance and redemption activity rather than any fee mechanism.