PYUSD
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Overview
PYUSD is PayPal's dollar-backed stablecoin issued by Paxos Trust Company. Each token is backed 1:1 by USD deposits and US Treasury bills, with monthly attestations published by an independent auditor. Originally launched on Ethereum, PYUSD expanded to Stellar for faster and cheaper settlement. Accessible through PayPal, Venmo, and a growing list of Stellar wallets and anchors.
Highlights
- Issued by Paxos Trust, a New York State–chartered limited-purpose trust
- Backed 1:1 by US dollar deposits and short-term Treasury bills
- Held and spent natively inside PayPal and Venmo by hundreds of millions of users
- Monthly reserve reports published by an independent auditor
What is a stablecoin?
A stablecoin is a token designed to track the value of a reference currency such as the US dollar or the euro. Issuers hold reserves (cash, short-term government debt, or other safe instruments) so that each token can be redeemed 1:1, giving holders price stability with the speed and global reach of blockchain settlement.