Living definition
What is PayPal USD (PYUSD)?
FinTech, Stablecoins & Digital AssetsAgentic Commerce & Payments
- Kind
- Product or service
- Released
- 2026-10-22
- Cohort
- product_service-002
Description
What it is and what it is for
AI-assisted draft · independently checked
Many cryptocurrencies are highly volatile in price, so people who trade them looked for something steadier to hold, and a stablecoin is a type of cryptocurrency that aims to keep a steady value relative to a specified asset, such as a national currency. PayPal USD (PYUSD) is a U.S. dollar stablecoin that PayPal describes as designed for payments; PayPal says it is issued by Paxos, not by PayPal itself. The maker states it is backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents, and is redeemable 1:1 for U.S. dollars. It is issued by Paxos Trust Company and was launched as a token on the Ethereum blockchain (the PayPal page now also lists Solana), and PayPal announced it on August 7, 2023.
Written from primary sources and reference pages, and checked against them by an independent AI fact-checker. Drafted with AI assistance.
Primary sources
Where this description comes from
A plain-language summary that simplifies technical detail; it does not assess readiness, maturity or adoption.
Release record
Published description
Published on
- Cohort
- product_service-002
- Root
- sha256:3be15a7f818b7fdc7cf65e3d9c02420256298ea5a78ecfc4aeb6ef0128b6b9cf
- Entry
- sha256:769d595174fc47eb48efce4ea7f916561e715dfa2d233c37239ee6674670dc59