Overview
PYUSD is the stablecoin issued by PayPal, the payments giant with 435 million active accounts, launched on Ethereum in August 2023 and expanded to Solana in May 2024. It is issued and managed by Paxos Trust Company, the same custodian behind USDP. PYUSD is fully backed by US dollar deposits, short-term Treasuries, and cash equivalents, with monthly attestations published by Withum.
Who Created PYUSD?
PYUSD was created by Paxos Trust Company (for PayPal) and launched in 2023. It is a Fiat-Backed stablecoin designed to maintain a stable value pegged to the US dollar.
Key Features
- +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
- +Backed by a publicly traded company (PYPL) with regulatory accountability
- +Direct USD conversion in PayPal app with no fees for retail users
- +Google Pay and PayPal checkout integration creates real-world payment utility
Where to Use PYUSD
PYUSD is available on Ethereum, Solana. You can use it on centralized exchanges for trading, in DeFi protocols for lending and borrowing, or as a stable store of value to park funds between trades.
Official website: https://pyusd.to