
PayPal USDPYUSD
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About PayPal USD
PayPal USD (PYUSD) is a US-dollar-pegged stablecoin issued by Paxos Trust Company under license from PayPal, launched in August 2023. It is fully backed by US dollar deposits, US Treasuries and similar cash equivalents, with monthly attestations published by Paxos. PYUSD is available on Ethereum and Solana and integrates with PayPal and Venmo's consumer flows. As a regulated fiat-backed stablecoin issued by a New York-supervised trust, it carries counterparty risk on the issuer rather than being decentralised — verify the latest reserve report before holding large balances. Volatility is minimal in normal conditions, but peg risk can appear under stress.
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