PayPal USD
PYUSD Price
PYUSD, PayPal's USD-backed stablecoin, maintains a 1:1 peg to the U.S. dollar, is fully regulated by Paxos for transparency and stability. More
| Fully Diluted Valuation | $967.34M |
|---|---|
| 24H Trading Volume | $4.55M |
| 24H Low / High | $1.00 / $ 1.00 |
| Circulating Supply | 967.75 M |
| Total Supply | 967.75 M |
| Max Supply | 0.00 |
| Categories | Stablecoins 5 more |
|---|---|
| Founder | Paxos |
| Website | paypal.com |
| Socials | |
| Chains | Ethereum Ecosystem 1 more |
| Explorer | Solscan 4 more |
| Contracts |
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1 more
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| Name | Pair | OG Score |
|---|
PayPal has entered the cryptocurrency arena with the launch of its own stablecoin, PayPal USD (PYUSD). Introduced on August 7, 2023, PYUSD is a USD-backed stablecoin built on the Ethereum blockchain, designed to provide users with a stable and reliable digital asset pegged at a 1:1 ratio to the US dollar.
Stability and Regulation
PYUSD's stability is ensured by its full backing with US dollar deposits, short-term US treasuries, and cash equivalents. This meticulous approach guarantees that 1 PYUSD is always equivalent to 1 US dollar, making it an attractive option for users seeking a stable digital asset in the volatile world of cryptocurrencies.
Regulatory oversight is a key aspect of PYUSD's design. Issued and managed by Paxos Trust Company, a regulated financial institution, PYUSD and its reserves are subject to strict supervision by the New York State Department of Financial Services. This regulatory scrutiny ensures compliance, transparency, and customer protection. The reserves, comprising US dollar deposits, US treasuries, and cash equivalents, are available for 1:1 redemption with Paxos, safeguarding customer funds.
Practical Use and Interoperability
PYUSD is not just a stablecoin; it's a versatile digital currency that users can employ for various digital transactions. From person-to-person payments to funding purchases at online checkouts, PYUSD facilitates seamless and efficient money movement. Users can also transfer PYUSD between PayPal and other external wallets.
One notable feature of PYUSD is its interoperability. As an Ethereum-based ERC-20 token, it can be transferred within the PayPal ecosystem and to compatible external crypto wallets. This broadens its usability and accessibility, allowing users to leverage the stability of PYUSD across different platforms.
PayPal's Vision and Integration
PayPal's journey into the cryptocurrency space began in 2020 when it allowed US users to buy, hold, and sell cryptocurrencies on its platform. The introduction of PYUSD marks a significant expansion of PayPal's commitment to digital currencies. The company aims to use PYUSD to streamline global payments through its extensive merchant network, potentially revolutionizing cross-border transactions and encouraging wider adoption of digital currencies for everyday payments.
Shortly after its launch, PayPal seamlessly integrated PYUSD into its broader ecosystem, enabling eligible US customers to purchase, hold, and transfer PYUSD. The speed at which PYUSD has gained traction in the market is evident from its market cap, which has surpassed $44 million in just over a month, placing it among the top 20 stablecoins by market capitalization.
Future Transparency and Trust
To enhance transparency, Paxos, the issuer of PYUSD, has committed to releasing detailed monthly reports on the assets backing the stablecoin, starting from September 2023. These reports, issued by independent third-party accounting firm WithumSmith+Brown, PC, will provide users with insights into the reserves, fostering trust and encouraging broader adoption of PYUSD.
In conclusion, PayPal's venture into the stablecoin realm with PYUSD signifies a pivotal moment in the evolution of digital currencies. With stability, regulatory compliance, and a vision for global payments, PYUSD emerges as a promising addition to the cryptocurrency landscape, offering users a secure and efficient means of engaging in digital transactions.
PYUSD has gained rapid market adoption since its August 7, 2023 launch, surpassing a market cap of $44 million in just over a month. Its integration into PayPal's ecosystem and commitment to transparency through monthly reports contribute to its growing popularity.
PYUSD stands out as PayPal's own stablecoin, offering stability through full backing with US dollar deposits, treasuries, and cash equivalents. Its regulatory oversight by Paxos Trust Company and integration within the Ethereum blockchain make it a reliable and versatile digital asset.
PayPal USD (PYUSD) is PayPal’s stablecoin, issued by Paxos.
Paxos.
You can buy PayPal USD (PYUSD) on Bybit, Bitget, OKX, Kraken, Gate.io cryptocurrency exchanges.
OGAudit is the first independent social audit platform for web3 projects and cryptocurrencies. Here you can find comprehensive crypto evaluations, ratings, unbiased and objective expert user reviews. There may be positive, negative, and neutral evaluations based on experts' experience and perspective with the product or the service about each cryptocurrency like PayPal USD PYUSD. To access these ratings, evaluations, and comments, click here.
There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.
This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of PayPal USD (PYUSD) is ($967,753,807), max supply of PayPal USD PYUSD is ($0) and the market cap of PayPal USD PYUSD is ($967,343,757).
What is the PayPal USD (PYUSD) price prediction?
Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!
The current market price of PayPal USD (PYUSD) is $0. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.
It is important to do comprehensive research before deciding whether PayPal USD (PYUSD) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:
Is this type of digital asset considered legal in your country?
Does Coin (PayPal USD PYUSD) solve a good problem or offer the best solution?
Do products and services work effectively, and solutions are scalable?
Does the team have a realistic roadmap and can catch up with it?
Does PayPal USD (PYUSD) have reasonable and sustainable revenue income models?
Can the team market their products and services well?
How decentralized is the governance and how strong is the community?
Has it reached its fair market value yet?
Does the coin/token have enough trading pairs and liquidity?
As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether PayPal USD (PYUSD) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.
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