# PayPal USD (PYUSD): Live Peg, Issuer & Licences

> PayPal USD (PYUSD) stablecoin: live USD peg deviation in bps, depeg history, issuer Paxos, licences linked to official registers, reserves and FAQ.

Canonical: https://stableradar.com/coin/pyusd
Generated: 2026-11-13T12:43:36.031Z (live figures are a snapshot at build time; see the canonical page for current values)

Stablecoin profile LIVE

# 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.

[Issuer profile → Paxos](https://stableradar.com/issuer/paxos)

$0.9998

Peg target: $1.0000 (USD)

On peg

Deviation: **-2.1 bps** (-0.02%) · Market cap: $2.61B

Sources: CoinGecko, DefiLlama · [CoinGecko ↗](https://www.coingecko.com/en/coins/paypal-usd) · Median of the available sources, refreshed in your browser. A deviation here is not a confirmed depeg.

### Token legal status
PYUSD

Other stablecoins

(1) Entity licence / registration

Paxos Trust Company, National Association

OCC · National trust bank · charter 25379

occ.gov ↗

(2) Authorisation to issue this token

OCC-chartered entity (charter #25379) — Paxos Trust Company, N.A.

No authorisation to issue this stablecoin identified in official registers as of 27 Oct 2026. Registers checked: NYDFS Greenlist, ESMA EMT register, JFSA, HKMA, CNAD, OCC

U.S. context

U.S. GENIUS Act: approves issuers (permitted payment stablecoin issuers), not individual tokens; applies from 18 Jan 2027 (FR 2026-21706)

(3) Applicable law

GENIUS Act — OCC final rule FR 2026-21706 (effective 18 Jan 2027) ↗

Related records

source ↗

Token legal status last checked: 1 Nov 2026

### Issuer & legal entity
- Issuer **Paxos**

- Legal entity Paxos Trust Company, National Association

- Headquarters New York, US

- Backing mechanism Fiat-backed (USD)

- Reserve mix Cash, US T-bills, overnight reverse repo (per Paxos)

- Reserves & attestation Monthly attestation by KPMG LLP (since 28 Feb 2025; previously WithumSmith+Brown) [paxos.com ↗](https://www.paxos.com/pyusd-transparency)

- Custody Per Paxos reserve reports

- Redemption 1:1 redemption for Paxos platform customers; PayPal/Venmo users via PayPal

Transparency Score (issuer)

Transparency Score

Weighted from public, sourced inputs · 94% of inputs available

Not legal advice; algorithmic assessment from public sources.

Our opinion based on public data as of 12 Nov 2026. Not a regulatory decision or a credit rating.

[Issuer profile → Paxos](https://stableradar.com/issuer/paxos)

### 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) | Accepted1 Sep 2026 | [Verified](https://assets.adgm.com/download/assets/AFRT+List+Sep+2026.pdf/c1b34426b88e11f0912ade26907f67ec) |
| AE-ADGM | Paxos Issuance MENA Ltd — Financial Services Permission 220167: issuance of USDL permitted by the FSRA (professional clients only) · FSRA (ADGM) | Authorized | [Verified](https://www.adgm.com/public-registers/fsra/firms/financial-firms/paxos-issuance-mena-ltd-220167) |
| 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 | Authorized12 Dec 2025 | [Verified](https://www.occ.gov/topics/charters-and-licensing/financial-institution-lists/trust-by-name.pdf) |
| US | Registered clearing agency (Paxos Securities Settlement Co.) · SEC | Authorized28 May 2026 | [Reported](https://www.paxos.com/terms-and-conditions/licenses) |
| SG | Major Payment Institution (DPT services) — Paxos Digital Singapore (USDG issuer); also Paxos Global Pte. Ltd (MPI, DPT services) per Paxos · MAS | Authorized | [Reported](https://www.paxos.com/terms-and-conditions/licenses) |
| 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](https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv) |

### 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 ↗](https://www.coingecko.com/), [DefiLlama ↗](https://defillama.com/stablecoins) · market data cached 13 Nov 2026, 11:28 UTC. 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 ↗](https://defillama.com/stablecoins)

### 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”.

Live prices: 13 Nov 2026, 12:43 UTC · Issuer reference data reviewed: 26 Oct 2026 (later changes are dated on each row) · Sources: [Issuer transparency / reserves (Paxos)](https://www.paxos.com/pyusd-transparency), [DefiLlama · PYUSD](https://defillama.com/stablecoin/paypal-usd), [CoinGecko · PYUSD](https://www.coingecko.com/en/coins/paypal-usd), [DefiLlama · Ethereum stablecoins](https://defillama.com/stablecoins/Ethereum)

Data: [DefiLlama](https://defillama.com/) · Powered by [CoinGecko](https://www.coingecko.com/)