Stablecoin profileLIVE
PayPal USD (PYUSD) stablecoin
In short: PYUSD is a USD-pegged stablecoin issued by Paxos. No token-level authorisation identified in the official registers checked. Below: live peg deviation, peg history, issuer, licences and FAQ.
Deviation: -2.1 bps (-0.02%) · Market cap: $2.61B
Sources: CoinGecko, DefiLlama · CoinGecko ↗ · Median of the available sources, refreshed in your browser. A deviation here is not a confirmed depeg.
Token legal status
Issuer & legal entity
Transparency Score (issuer)
Our opinion based on public data as of 12 Nov 2026. Not a regulatory decision or a credit rating.
Issuer licences, registrations & token status
Issuer-level records from the Paxos profile; each row links to the official register or source.
| Jurisdiction | Record | Status | Source |
|---|---|---|---|
| AE-ADGM | Accepted Fiat-Referenced Token(s) for use in ADGM: PYUSD, USDG, USDP — FSRA Consolidated List of Accepted FRTs (1 Sep 2026). Accepted for use; not an issuance licence · FSRA (ADGM) | Accepted 1 Sep 2026 | Verified |
| AE-ADGM | Paxos Issuance MENA Ltd — Financial Services Permission 220167: issuance of USDL permitted by the FSRA (professional clients only) · FSRA (ADGM) | Authorized | Verified |
| US | National trust bank charter No. 25379 — Paxos Trust Company, National Association (converted from NYDFS trust 12 Dec 2025); confirmed on OCC list “Trust Banks Active As of 9/30/2026”, last checked 2026-11-01 · OCC | Authorized 12 Dec 2025 | Verified |
| US | Registered clearing agency (Paxos Securities Settlement Co.) · SEC | Authorized 28 May 2026 | Reported |
| SG | Major Payment Institution (DPT services) — Paxos Digital Singapore (USDG issuer); also Paxos Global Pte. Ltd (MPI, DPT services) per Paxos · MAS | Authorized | Reported |
| EU-FI | Electronic Money Institution No. 32368862 — Paxos Issuance Europe Oy (LEI 743700KYSSTKZYGEUF50, EMI since 23/11/2022); EMTs: USDG, EUROe, eUSD (ESMA register); PYUSD and USDP are not EMTs · FIN-FSA | Authorized | Verified |
PYUSD peg history
Max deviation from the peg, time spent outside ±50 / ±100 bps and derived events per window. 24h: CoinGecko 5-minute prices; 7d, 30d, 90d: hourly; 1y: daily. Cached at build time.
| Favourites | Coin | Peg | Trend | Max |dev| | Low | >±50 bps | >±100 bps | Events | Details |
|---|---|---|---|---|---|---|---|---|---|
| PYUSD | USD | −28.0 bps | 0.9972 | 0 | 0 | 0 |
Source: CoinGecko ↗, DefiLlama ↗ · market data cached . Aggregated prices can move on thin markets; a deviation here is not a confirmed depeg.
PYUSD supply by chain
Current circulating supply per chain from the DefiLlama stablecoins API (cached at build time). Per-chain or DEX prices are not shown: no free source covers them reliably.
| Chain | Supply | Share of supply |
|---|---|---|
| Ethereum | $1.66B | 63.1% |
| Solana | $753.1M | 28.6% |
| Arbitrum | $161.2M | 6.1% |
| Flow | $35.4M | 1.3% |
| Polygon | $10.4M | 0.4% |
| Stable | $8.4M | 0.3% |
| Sei | $2.4M | 0.1% |
| X Layer | $2.0M | 0.1% |
| Berachain | $130,007 | 0.0% |
| Cardano | $199 | 0.0% |
| Ink | $115 | 0.0% |
| Avalanche | $53 | 0.0% |
| Tron | $23 | 0.0% |
| Plume Mainnet | $10 | 0.0% |
| KiteAI | $7 | 0.0% |
Source: DefiLlama ↗
FAQ about PYUSD
What is PayPal USD (PYUSD)?
PYUSD is a stablecoin pegged to the US dollar. Issuer: Paxos. Backing (as described in our data): Fiat-backed (USD).
Who issues PYUSD?
PYUSD is issued by Paxos Trust Company, National Association. The issuer profile on StableRadar lists its licences with links to official registers.
Is PYUSD authorised under MiCA or another stablecoin regime?
No authorisation to issue PYUSD was identified in the official registers StableRadar checked (NYDFS Greenlist, ESMA EMT register, JFSA, HKMA, CNAD, OCC; last checked 1 Nov 2026). This does not mean the coin or issuer is unlawful, unlicensed or unsafe. Applicable law noted: GENIUS Act — OCC final rule FR 2026-21706 (effective 18 Jan 2027). US context: under the GENIUS Act only approved (permitted) payment stablecoin issuers may issue payment stablecoins in the US; the Act approves issuers, not individual tokens. It applies from 18 Jan 2027 (OCC final rule FR 2026-21706).
Is PYUSD safe?
StableRadar does not say whether a coin is safe and does not give investment advice. In our opinion, based on public data as of 12 Nov 2026, the issuer Paxos has a Transparency Score of 64/100. This is not a regulatory decision or a credit rating. The live peg deviation and the official register links are on this page.
How is PYUSD backed?
Model: Fiat-backed (USD). Reserve mix: Cash, US T-bills, overnight reverse repo (per Paxos). Attestation: Monthly attestation by KPMG LLP (since 28 Feb 2025; previously WithumSmith+Brown).
Related pages
- Issuer profile → Paxos
- PYUSD × country checker: US
- PYUSD × country checker: DE
- PYUSD × country checker: FR
- Stablecoin laws by country
- News & depeg incidents
- Live peg monitor
- All stablecoins
- Issuer ranking
Informational only: not legal, investment or compliance advice. Company statements are marked “per company”.