PYUSDStablecoinPayment Stablecoin
United StatesSelf-reported
United StatesSelf-reportedPayPal USD
Paxos Trust Company· New York, United States
- Circulating supply
- $2.74B
- 17D change
- -0.9%
- Yield
- None
- NAV
- 1.0000
- Expense ratio
- 0.00%
- Minimum
- $0
- Redemption
- Intraday
- Launched
- 07 Aug 2023
Field coverage 96%Primary-source or on-chain verified 33% of tracked metrics2/2 source documents analyst-verifiedLast reconciled 01 Oct 2026
Overview
What this product is
A white-label stablecoin: the consumer brand is a payments company, the issuer of record is a chartered trust company. Worth tracking precisely because the brand and the regulated issuer are different entities — an exposure that is invisible unless the relationship is recorded explicitly.
- Underlying asset
- US Treasury bills, overnight repurchase agreements and bank deposits
- Asset class
- Stablecoin
- Product structure
- Payment Stablecoin
- Legal structure
- US State Trust Charter
- Issuer jurisdiction
- United States
- Fund domicile
- United States (New York trust)
- Base currency
- USD
- Launched
- 07 Aug 2023
Peer set
Comparable products
Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.
| USDC | 0.00% | 0.00% | $0 | $66.02B |
| PYUSDthis product | 0.00% | 0.00% | $0 | $2.74B |
| USDG | 0.00% | 0.00% | $0 | $985.8M |
Issuer
Who runs it
Paxos Trust CompanyNew York, United States
New York-chartered trust company issuing stablecoins and commodity-backed tokens under state banking supervision, and running white-label issuance for third-party brands.
Portfolio
Composition
- US Treasury bills64.1%
- Overnight reverse repurchase agreements29.3%
- Cash at regulated banks6.6%