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.