PayPal USD (PYUSD) is a fiat-backed stablecoin issued by Paxos Trust Company under New York State Department of Financial Services oversight, with PayPal as the consumer-facing brand. It is most visible inside the PayPal and Venmo ecosystems and on Ethereum and Solana rails, where it is used for transfers, on-chain settlement, and integrations with select exchanges and DeFi venues. For peg confidence, depeg chatter, and ongoing risk monitoring, see the full risk profile.
Research only — not financial advice, not a solvency rating.