PayPal USD

PYUSD Rank #40

$1.00▲ 0.00%24h

Low $0.9998High $1.00

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Market cap$2.89BRank #40

Fully diluted value$2.89B

Volume (24h)$39.65MVol / Mcap 1.37%

Circulating supply2.89BPYUSD

Total supply2.89B

Max supply∞no hard cap

All-time high$1.02Oct 23, 2023

All-time low$0.9594Dec 5, 2024

What is PayPal USD?

Launch and issuer

PayPal announced PYUSD on August 7, 2023. Paxos issues the asset and manages its reserve backing. It was initially introduced on Ethereum and later expanded to additional networks, including Solana and Arbitrum. Eligible PayPal and Venmo customers can buy or sell it for dollars. The token can also move to compatible external wallets.

Reserves and supply

Dollar deposits, short-term US Treasury instruments and comparable cash equivalents back PYUSD. Its intended redemption value is one US dollar per token. New tokens are created through the issuer's minting process and removed through redemption. Supply therefore follows issuance demand rather than a mining schedule or fixed cap. Paxos publishes reserve reports and independent attestations each month.

Payment infrastructure

PYUSD supports peer transfers, business payments and settlement between blockchain applications. Its Ethereum and Arbitrum implementations use ERC-20 contracts. The Solana version uses the network's token-extension infrastructure. LayerZero integration supports transfers by destroying tokens on the source network and issuing them at the destination. Any rewards offered within PayPal accounts are an account program rather than native proof-of-stake issuance.