PayPal USD (PYUSD) is a U.S. dollar-backed stablecoin issued by Paxos Trust Company, integrated into PayPal's global payments ecosystem.
Key Data
| Backing | U.S. dollar deposits, short-term U.S. Treasuries, and similar cash equivalents |
| Auditor | independent third-party accounting firm |
| Reserve Reporting | monthly |
| Redemption | 1:1 for U.S. dollars through Paxos |
| Peg Currency | USD |
| Launched | 2023 |
Supported Networks
Overview
PayPal USD (PYUSD) is a stablecoin fully backed by U.S. dollar deposits and cash equivalents, ensuring a 1:1 redemption ratio with the U.S. dollar. It is issued by Paxos Trust Company on behalf of PayPal.
How It Works
PYUSD is integrated into PayPal's global payments ecosystem, offering services to over 430 million users across more than 200 countries. It can be redeemed 1:1 for U.S. dollars through Paxos.
Reserve Backing
PYUSD is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and similar cash equivalents. Paxos publishes monthly reserve reports and attestation reports issued by an independent third-party accounting firm.
Supported Networks
Initially launched on Ethereum (ERC-20), PYUSD expanded to the Solana blockchain (SPL) in May 2024 and became available on nine additional blockchains through LayerZero's interoperability protocol in September 2025.