Product
5 Key Facts About PYUSD
PayPal USD (PYUSD) launched just six months ago, and it has already become one of the fastest growing stablecoins ever, having gained global market traction with huge growth in market cap as exchanges, wallets, fintechs and more add PYUSD to their platforms.
Paxos
PayPal USD (PYUSD) launched just six months ago, and it has already become one of the fastest growing stablecoins ever, having gained global market traction with huge growth in market cap as exchanges, wallets, fintechs and more add PYUSD to their platforms
By adding PYUSD to their platforms, these exchanges are vying for the overall value that PYUSD can bring to end users and platforms alike. As the issuer of PYUSD, Paxos has tracked its adoption carefully, noting five important facts about the groundbreaking stablecoin—and how PYUSD is poised to enhance the financial system for market participants:
1. PYUSD is redeemable for USD with $0 conversion fee
Whether you’re looking to redeem $1 or $100M (or more) of PYUSD there are zero conversion fees on PayPal and Paxos. When money means business, we not only make it easy to transact, we make it financially efficient.
2. PYUSD is now over $300M in market cap*
With a growing market cap, PYUSD becomes more valuable as a trusted, utility-driven stablecoin, helping make on and off ramp transactions seamless and making the future of finance accessible to all.
3. PYUSD was officially used by PayPal Ventures to fund one of their investments
Last month, PayPal Ventures, the investment arm of PayPal, used nearly $5M PYUSD to make an investment in Mesh. With over 300 integrations with different exchanges, wallets and brokerages, Mesh helps PYUSD become part of the connection layer for a critical mass of crypto platforms and financial service providers.
4. Access PYUSD from more than 20 exchanges globally
PYUSD, present on major exchanges including Crypto.com, Coinbase and Kraken and supported as a payment option by BitPay and MetaMask, is already available on over 20 exchanges. This number continues to grow each month as more exchanges choose to list PYUSD. Want to add PYUSD to your exchange? Contact us.
5. PYUSD is available to more than 700M users around the world
PayPal, which has more than 431M active accounts globally, first launched cryptocurrency services in 2020. While that number is impressive alone, the rollout of PYUSD significantly widened the addressable user base as more exchanges, wallets and platforms add PYUSD to their products.
The best part? PYUSD is still in the very early stages of adoption. Noting the market’s positive reaction to the novel stablecoin thus far, Paxos looks forward to seeing how it continues to bring the power of a regulated stablecoin built on enterprise-grade blockchain infrastructure to the financial ecosystem.
*Source: CoinGecko, 2/6/2024
Disclaimer: Paxos charges some fees in connection with stablecoin / fiat transactions.
Related articles
Product
Build in-house, stitch together vendors, or use one regulated partner. Compare three ways banks and fintechs launch crypto brokerage for clients.
Product
PAXG removes the operational overhead of owning physical gold, with storage, custody, and transfer handled at the token level. Today it extends to Solana, the first step in its multi-chain expansion.
Product
Paxos has more than doubled its crypto brokerage asset coverage to 29 tokens in 2026, expanding faster across more chains while holding every asset to the same high listing standard.
