PYUSD vs USDC — Side by Side
| Feature | PYUSD | USDC |
|---|---|---|
| Backing | Fiat-Backed | Fiat-Backed |
| Issuer | Paxos Trust Company (for PayPal) | Circle Internet Financial |
| Launched | 2023 | 2018 |
| Chains | 2 | 10 |
When to Use Each
PYUSD
- +435 million PayPal and Venmo users represent a potential distribution moat unmatched in crypto
- +Paxos custody with monthly Withum attestations — regulated and transparent reserves
- +Native Solana integration using Token-2022 with confidential transfer capability
USDC
- +Monthly reserve attestations by Deloitte — highest transparency among fiat stablecoins
- +Native CCTP (Cross-Chain Transfer Protocol) eliminates bridge risk for cross-chain transfers
- +US-regulated issuer (Circle holds multiple money transmitter licenses)