PayPal USD
Profil du Stablecoin
PayPal USD (PYUSD) est un stablecoin adossé au fiat ancré à USD, avec 4,1 Md $US en offre en circulation sur 7 réseaux blockchain. Chaque PYUSD est adossé aux réserves détenues par l'émetteur, avec parité attestée via defillama. L'ancrage s'est maintenu dans une fourchette de ±1% sur la plupart des sessions de négociation, la composition des réserves et la cadence d'attestation étant les principaux facteurs de son profil de risque de crédit.
À propos de PayPal USD (PYUSD)
PayPal USD is designed to maintain a stable $1 USD value. It's backed by dollar deposits, US treasuries, and cash equivalents
As PayPal USD rolls out, users will be able to buy, sell, hold, and transfer it in the PayPal app or on their site
Émetteur et attestation
PayPal USD (PYUSD) is issued by Paxos Trust Company (issued for PayPal), operating under New York State (NYDFS-regulated). Originally launched in 2023.
Composition des réserves
Backed 1:1 by US dollar deposits, short-term US Treasuries, and similar cash equivalents held in segregated accounts at US banks.
Événements notables d'ancrage
Launched in August 2023 as the first major-payments-company branded stablecoin. Expanded from Ethereum to Solana in 2024.
Les informations sur l'émetteur sont compilées à partir de divulgations publiques, de dépôts réglementaires NYDFS / BMA et de rapports d'attestation de source primaire. Vérifiez toujours directement auprès de l'émetteur avant toute décision.
Activité récente de l'offre
PayPal USD (PYUSD) supply contracted by 4,5 M $US (-0.11%) in the last 24 hours, expanded by 17 M $US (+0.42%) over the past week, and expanded by 56,7 M $US (+1.41%) over the past 30 days.
Modest growth: net issuance is positive at 1.41% over the past month, indicating gradual demand uptake.
Historique de l'Offre
Network distribution
PayPal USD circulates across 7 blockchain networks. Ethereum hosts the largest share at 72.25%, followed by Solana at 19.30%. Arbitrum has shown the strongest 30-day growth at +58.05%, suggesting fresh issuance or bridge inflows on that chain.
| Chaîne | Offre | Part | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | 3 Md $US | 72.25% | -0.60% | -0.64% |
| Solana | 789,2 M $US | 19.30% | +1.89% | -5.70% |
| Arbitrum | 334,7 M $US | 8.19% | -0.35% | +58.05% |
| Flow | 10,5 M $US | 0.26% | -0.92% | +7.08% |
| Berachain | 448,4 k $US | 0.01% | -0.04% | -10.53% |
| Plume Mainnet | 2,1 k $US | 0.00% | 0.00% | 0.00% |
| Cardano | 259,4 $US | 0.00% | 0.00% | +0.18% |
Historique de stabilité de l'ancrage
PayPal USD (PYUSD) is designed to trade at exactly 1.00 USD, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $1.0000, a +0.004% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
Comment les stablecoins reserve-backed défendent leur ancrage
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Implications pratiques pour les détenteurs
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (reserve-backed) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Adresses de contrat
PayPal USD (PYUSD) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chaîne | Adresse du contrat | Vérifier |
|---|---|---|
| Ethereum | 0x6c3ea9036406852006290770BEdFcAbA0e23A0e8 | Explorateur |
Les adresses de contrat proviennent du profil stablecoin de DeFiLlama. Certaines chaînes (Tron, Solana, Aptos, Sui) utilisent des formats d'adresse non EVM. Le lien « Explorateur » ouvre l'explorateur de blocs officiel de la chaîne concernée ; nous ne renvoyons pas vers des explorateurs tiers susceptibles d'afficher des données modifiées.
Comparer PayPal USD à d'autres stablecoins fiat-backed
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside PayPal USD (PYUSD). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Offre | Mécanisme | Chaînes |
|---|---|---|---|
| Tether (USDT) | 184,1 Md $US | fiat-backed | 107 |
| USD Coin (USDC) | 79,6 Md $US | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | 4,5 Md $US | fiat-backed | 8 |
| BlackRock USD (BUIDL) | 2,5 Md $US | fiat-backed | 8 |
| Circle USYC (USYC) | 2,4 Md $US | fiat-backed | 2 |
Entre les classes de mécanismes
If you're researching PYUSD as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Stabilité du Peg
Distribution par Chaîne
Ressources et sources de données
PayPal USD (PYUSD) is tracked across major crypto data providers. The links below open PayPal USD (PYUSD)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Actualités récentes sur PayPal USD
Latest reporting from major crypto news outlets covering PayPal USD.
- AMBCrypto
PYUSD loses 35% of its stablecoin cap as USDC makes largest transfer in history
Here is why Tether and Circle may continue dominating the stablecoin sector.
- Blockonomi
PayPal's $PYUSD Stablecoin Supply Shrinks 31% From $4.2B ATH to $2.92B
PayPal stablecoin faces supply contraction even as global wallet usage continues to grow
- Bitcoin
Mastercard Opens Stablecoin Settlement to 6 Partners Across USDC, RLUSD and PYUSD
Mastercard is expanding its global settlement network to include regulated stablecoins, intraday options, and weekend and holiday processing, giving card issuers and acquirers new…
- Cointelegraph
Mastercard expands support to USDC, PYUSD, RLUSD stablecoin settlement
The payments giant said USDC, PYUSD, RLUSD and other stablecoins will support new settlement options across multiple blockchains.
- Crypto news
Mastercard brings USDC, RLUSD, PYUSD to global settlement network
Mastercard has expanded its payment network to support stablecoin settlements across multiple blockchains and beyond traditional banking hours, adding support for six regulated…
- The Block
Mastercard expands stablecoin settlement options with USDC, PYUSD and RLUSD
Mastercard expanded settlement to USDC, PYUSD, and RLUSD, enabling intraday, weekend, and holiday card settlement across its payments network.
- Blockonomi
Mastercard Goes 24/7 With USDC, RLUSD, and PYUSD Settlement Move
Mastercard adds USDC, PYUSD, and RLUSD to enable always-on card settlement worldwide
- Coinpaper
Ripple and Stellar Land on FXC's 2026 Top 100 Cross-Border Payments Giants List Alongside Barclays, Visa & PayPal
Ripple and Stellar have both secured spots on FXC Intelligence's 2026 Top 100 Cross-Border Payments Companies list, ranking alongside global payments powerhouses like Barclays,…
Stablecoins associées
Stablecoins comparable to PayPal USD by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Autres stablecoins fiat-backed
Stablecoins indexés sur USD
Plus grands stablecoins par offre
Avertissement de Risque
Les stablecoins comportent des risques, notamment la dé-peggisation, les changements réglementaires et le risque de contrepartie. Diversifiez toujours et faites vos propres recherches.