STABLECOIN / USD
PYUSD
PayPal USD, issued by Paxos Trust Company, N.A.. Fiat-backed.
Supply snapshot: 2026-09-14. API captured 2026-09-14 12:10:59 UTC. Price-update time is not supplied by the provider. Selected document fields reviewed 2026-09-12; other fields need review.
OVERVIEW
What is PYUSD?
PayPal USD (PYUSD) is a USD-denominated fiat-backed stablecoin associated with Paxos Trust Company, N.A.. This profile separates a market snapshot dated 2026-09-14 from issuer-document reviews.
ISSUER / OPERATORPaxos Trust Company, N.A.
BACKING MODELCash + T-bills
REDEMPTION ROUTEDirect via Paxos
DOCUMENT REVIEW / 2026-09-12
What the sources establish.
Two monthly documents are not interchangeable
Paxos distinguishes its own portfolio report, which is not independently reviewed, from the accountant's attestation. The page identifies KPMG for attestations posted from 28 February 2025. Read the document type and covered date before calling a reserve figure independently verified; the page also now names Paxos Trust Company, N.A. as issuer.
Read the source ↗Regulation belongs to a specific legal entity
Paxos now describes its US national trust bank as OCC-regulated. This replaces the older NYDFS-only label here. The source is the issuer's regulatory record, not an independent legal opinion or a statement about the eligibility of every product in every country.
Read the source ↗01 / ISSUER & STRUCTURE
What supports the unit.
- UNIT
- USD Not field-reviewed
- ISSUANCE MODEL
- Fiat-backed Not field-reviewed
- RESERVE / COLLATERAL
- Cash + T-bills Not field-reviewed
- YIELD PROFILE
- No Not field-reviewed
- REDEMPTION
- Direct via Paxos Not field-reviewed
02 / INTERPRETATION
How to read this record.
Only fields with their own dated source link were checked in the latest document review. Other descriptions remain historical reference material, even when a general source link is available.
Market cap is estimated as dated token supply multiplied by the USD price captured from the API. The two inputs are not guaranteed to be simultaneous. Supply change compares exact 30-day history points in token units, not dollar value or investment return. Network counts include tracked bridges.
03 / QUESTIONS
Common questions about PYUSD.
What is PYUSD?
PayPal USD (PYUSD) is a USD-denominated fiat-backed stablecoin associated with Paxos Trust Company, N.A.. This profile separates a market snapshot dated 2026-09-14 from issuer-document reviews.
Who issues PYUSD?
The Stablrcoin record identifies Paxos Trust Company, N.A. as the issuer, operator or governing organization associated with PayPal USD. The exact legal role can differ between company-issued tokens and decentralized protocols, so the linked primary source remains authoritative.
What backs PYUSD?
The directory describes the reserve or collateral model as Cash + T-bills. That field has not been individually verified in the latest document review and should be treated as a research lead.
Can PYUSD be redeemed?
The recorded redemption route is: Direct via Paxos. The route has not been individually verified in the latest document review. Eligibility, minimums, settlement windows and fees can still depend on the issuer, account type and jurisdiction.
Does PYUSD pay yield?
The listed yield profile is No. Yield from a separate wrapper, savings product or protocol position is not the same as yield built into the stablecoin itself and can introduce additional risks.