Assets · Stablecoin · issued by Paxos
PayPal USD (PYUSD)Updated 14 Oct 2026
PayPal's US dollar stablecoin, issued for PayPal by Paxos Trust Company and redeemable one for one.
Issued through PayPal USD (PYUSD) Live (scaled)
Classification · medium confidence
- Legal form
- Stablecoin from economic tests
- Underlying
- Government debt · Money, Government debt
- Value behaviour
- Stable value · no income
- Ledger role
- Native
Primary by the cash residual exception: components are only money and US Treasury instruments (T-bills, Treasury repo, government MMFs) from a Treasury reserve: PYUSD is backed by dollar deposits, short-term US Treasuries and similar cash equivalents. Paxos's monthly composition reports render client-side and were not captured, so no weights.
Sourced[2]. How assets are classified: methodology.
Contracts
Addresses as published by the issuer. Check them on the explorer before relying on them. Supply per network comes from the issuing deployment's on-chain figures.
| Network | Address | Standard | Supply here | Source |
|---|---|---|---|---|
| Ethereum | 0x6c3ea9…23A0e8 ↗ | ERC-20 | ~$1.81bn | [1] |
| Solana | 2b1kV6Dk…u24GXo ↗ | SPL | ~$732.12m | [1] |
| Arbitrum | 0x46850a…696984 ↗ | ERC-20 | ~$160.72m | [1] |
| Polygon | 0x99aF3E…240750 ↗ | ERC-20 | ~$10.41m | [1] |
| X Layer | 0x87b4a8…7506B4 ↗ | ERC-20 | ~$2.02m | [1] |
| Stable | 0x28F1f3…ab0E9f ↗ | ERC-20 | — | [1] |
Settles in PYUSD
- Hastra PRIME (staked wYLDS)Live (limited)[4]rwa.xyz lists PYUSD and YLDS as PRIME's subscription assets; Hastra's own guide names only USDC for wYLDS.
- Mastercard stablecoin settlement for issuers, acquirers and merchantsLive (limited)[5]Enabled from June 2026; no evidenced flows found.
- PayPal Pay with Crypto for merchantsLive (limited)[6]Merchant proceeds converted to PYUSD or dollars.
Sources
- [1]PYUSD on Main Networks — Paxos. Accessed 14 Oct 2026.B
- [2]PayPal Launches U.S. Dollar Stablecoin — PayPal, 7 Aug 2023. Accessed 11 Oct 2026.B
- [3]paxosglobal/paxos-token-contracts: Paxos stablecoin smart contract repo — Paxos (GitHub). Accessed 13 Oct 2026. Repository covers USDP, USDG, PYUSD and PAXG and describes the token as ERC-20..B
- [4]PRIME asset page — RWA.xyz. Accessed 15 Oct 2026. Inception date 4 Dec 2025; management fee 0.50%; domicile Cayman Islands..A
- [5]Mastercard expands settlement capabilities — Mastercard, Jun 2026. Accessed 11 Oct 2026.B
- [6]PayPal Drives Crypto Payments into the Mainstream, Reducing Costs and Expanding Global Commerce — PayPal, 28 Jul 2025. Accessed 11 Oct 2026.B