PayPal USD

$3.0B market cap

Issued by Paxos · reviewed 29 October 2026

Market cap: $2.95B +1.25% 7d
30-day trend
Volume / market cap: 1.2%
Peg drift, 30 days: 0.10%

Market data as of 29 October 2026, the same daily snapshot the tracker publishes. Peg drift is the largest single-day distance from par over the last 30 days, for USD-pegged tokens only.

PayPal USD (PYUSD) is a U.S. dollar-denominated stablecoin issued by Paxos Trust Company, fully backed by U.S. dollar deposits and equivalents.

01

Instrument facts

Symbol	PYUSD
Peg	USD
Backing	Fiat backed
Status	Active
Launched	2023
Networks	L1 EVM Ethereum L1 non EVM Solana, Stellar
Specifications	Backing Fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and similar cash equivalents. Auditor KPMG LLP Reserve reporting Monthly reserve reports and third-party attestations are published. Redemption Redeemable 1:1 for U.S. dollars through PayPal and Venmo platforms. KYC required Yes
Use cases	Payments, Trading
Regulatory status	Jurisdiction US · License type OCC National Trust Bank Charter No. 25379 (Paxos Trust Company, N.A.) · Status Licensed · Issued 2025

02

Supply by chain

6 chains · $2.9B total

Chain	Supply
Ethereum	$1.9B
Solana	$674M
Arbitrum	$279M
Flow	$69M
Polygon	$10M
Sei	$5M

Chains holding at least $1M of this token, from the daily cross-chain compilation. The total may differ from the market capitalization above, which is a separate measurement.

03

Contract addresses

7 chains

Chain	Address
Arbitrum One	`0x46850ad61c2b7d64d08c9c754f45254596696984`
Ethereum	`0x6c3ea9036406852006290770bedfcaba0e23a0e8`
Ink	`0x142cdc44890978b506e745bb3bd11607b7f7faef`
Polygon PoS	`0x99af3eea856556646c98c8b9b2548fe815240750`
Solana	`2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo`
Stellar	`CCCRWH6Q3FNP3I2I57BDLM5AFAT7O6OF6GKQOC6SSJNDAVRZ57SPHGU2`
X Layer	`0x87b4a8176b3df6b71e26cc095edcaf4db07506b4`

Addresses as recorded for this token. Verify against the issuer's own published address before sending funds.

Official site · Whitepaper

04

Background

PayPal USD (PYUSD) is a stablecoin launched in August 2023, issued by Paxos Trust Company on behalf of PayPal. It is designed to maintain a stable value by being pegged to the U.S. dollar.

PYUSD is actively in circulation and can be used for transactions. It is redeemable 1:1 for U.S. dollars through PayPal and Venmo platforms.

PYUSD is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and similar cash equivalents. KPMG LLP conducts monthly attestations of its reserves.

05

Recent activity

— Our coverage BIS vs Stablecoins: The Fragmentation Debate Is Back — Stablecoin Beat Insight
— Our coverage Stablecoin Banking: The New Battle for Deposits, Payments and Licenses — Stablecoin Beat Insight
— Our coverage Stablecoin Recap Apr 20–27, 2026: US authorities froze $344 million in crypto linked to Iran. — Stablecoin Beat Weekly
— Our coverage Stablecoin Recap Aug 24–31, 2026: Stablecoin market cap increased by $0.76 billion, a 0.25% rise. — Stablecoin Beat Weekly
— Our coverage Stablecoin Recap Jul 20–27, 2026: BIS warns stablecoins could undermine capital controls in emerging markets. — Stablecoin Beat Weekly

06

Frequently asked questions

What is PayPal USD?

PayPal USD (PYUSD) is a U.S. dollar-denominated stablecoin issued by Paxos Trust Company, fully backed by U.S. dollar deposits and equivalents.

How is PYUSD backed?

Fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and similar cash equivalents.

Which networks carry PYUSD?

PYUSD is recorded on 3 networks, including Ethereum, Solana, Stellar.

What is the market capitalization of PYUSD?

PYUSD has a market capitalization of $3.0B as of 29 October 2026.

07

Other US dollar stablecoins

License and registration entries summarize public records and issuer statements as of the dates shown and are not legal advice; confirm current status with the relevant regulator. Terms.

Compiled from issuer disclosures, on-chain data and market data. Paxos · Methodology