Glossary
PYUSD
PayPal's regulated USD stablecoin — fully fiat-backed by Treasuries and cash, issued via Paxos on Ethereum and Solana.
PYUSD launched in August 2023 on Ethereum, with Paxos as the regulated issuer and PayPal as the consumer-facing brand. Reserves are short-term US Treasuries, cash, and cash-equivalents, audited monthly under New York DFS oversight.
The token is integrated into PayPal's consumer wallet — US PayPal users can buy, sell, hold, and transfer PYUSD with the same UX they already know. A Solana deployment in 2024 added native PYUSD to the Solana DeFi ecosystem. PYUSD is the most prominent big-tech-branded stablecoin to date.