PayPal USD

The new stablecoin from PayPal, issued by Paxos

Zero fees to convert PYUSD to USD with PayPal and Paxos

High standards of consumer protection

Paxos-issued stablecoin PYUSD – and its reserves – are subject to strict regulatory oversight by the New York State Department of Financial Services.

1:1 redemption, readily available

Reserves are held 100% in US dollar deposits, US treasuries and cash equivalents – meaning that customer funds are available for 1:1 redemption with Paxos.

The Paxos-issued reserve reports and attestations for PayPal USD are published monthly.

Customer assets protected from bankruptcy, fully segregated

Under New York banking law, in the event of Paxos Trust insolvency, customer assets may not be used to satisfy the debts of Paxos because client assets are held bankruptcy remote.

PayPal USD on PayPal

Buy, sell, hold or transfer PayPal USD on PayPal. Use the convert feature for a fee to buy supported cryptos. You can also check out with PayPal using crypto on millions of online sites and PayPal will sell your PYUSD to pay for your items.1

PayPal USD is also available on Venmo! This means that PYUSD is available for purchase and sale on Venmo and can be sent to compatible external wallets and friends and family on Venmo and PayPal, and vice versa.

Designed for the Future of Money Movement

Dual sided network of merchants and consumers

Leverage the PayPal network of more than 400+ million active accounts and 35+ million merchants to drive utility across our brands. PayPal processes over 1.2 trillion dollars on an annual basis.

Fiat to Web3 connectivity

Simplify the entry to crypto native applications all while conducting seamless transactions. Onboard new users with PYUSD to Web3, DeFi and future digital experiences.

Payment innovation

PYUSD paves the way for new payment innovation facilitating fast, cross-border money movement to support friends and family, conducting international payments, enabling direct flows to developers and creators, and fostering
the continued expansion into digital assets.

Benefits of Stablecoins

Stablecoins possess the best qualities of crypto and fiat currency – providing price stability and a steady valuation while offering the secure and decentralized features of crypto.

Financial inclusion​

Before stablecoins, access to the US dollar was restrictive and costly (or unavailable). But now you can access fully-backed stablecoins with a mobile device and internet connection.

Efficient money movement​

Compared to traditional wire transfers, stablecoin transfers (including cross-border and global transfers) are quick, cost-effective and could happen 24/7.

Programmable money​

Stablecoins are a trusted currency for developers and can be integrated on different blockchains, adding liquidity and creating bridges between traditional fiat and web3.

FAQs

Review frequently asked questions about PayPal USD

Issued by Paxos Trust Company, PayPal USD (PYUSD) is PayPal’s stablecoin designed for payments. PYUSD is an ERC-20 tokenized digital dollar. Like other crypto assets, it can move instantaneously, anywhere in the world, at any time, and it’s programmable. Unlike other crypto assets, PYUSD is stable. It is backed 1:1 for the dollar and it’s issued by Paxos Trust Company, so the funds are carefully protected, audited and regulated.

Link to GitHub
Link to Etherscan

  • Purchase: Note that at this time retail and institutional users of account.paxos.com must purchase PYUSD  from PayPal, Inc. Developers and Crypto Brokerage Partners can purchase PYUSD using our APIs, or convert fiat balances to PYUSD. See our PYUSD Documentation for more details.
  • Redeem: Please refer to How to Fund Your Account with Digital Assets.Once your PYUSD deposit is complete you may withdraw USD following the steps noted in Withdrawing From My Paxos Account

PYUSD is regulated by the New York State Department of Financial Services and issued by Paxos Trust Company. USD is issued by the US Treasury.

A note about freeze & seize

Although Paxos has the ability and the right to freeze all USD Stablecoins tokens, including PYUSD, Paxos would only deploy such ability in very limited circumstances, such as when an illicit incident is discovered as part of Paxos’ real time fraud risk monitoring process and / or as reported to us by law enforcement. Paxos will report such incidents to law enforcement and/or regulators in a timeline manner, and will freeze certain PYUSD if required to do so by law, specifically when Paxos receives a formal, binding legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over Paxos. Paxos would only seize your PYUSD if so formally required in writing by a binding law enforcement agency, a regulator, or a judicial body.

For more information, please see Section 3.4 of the US Dollar-Backed Stablecoin Terms & Conditions.

Stablecoin Resource Library

Learn more about stablecoin use cases, how they support an open financial system and more.

1PayPal Balance or Venmo accounts required.

When you buy or sell cryptocurrency on PayPal or Venmo (including when you checkout with crypto on PayPal), Paypal or Venmo will disclose an exchange rate and any fees you will be charged for that transaction.  For currencies other than PYUSD, the exchange rate includes a spread that is earned on each purchase and sale.  Learn more about cryptocurrency fees on PayPal and Venmo.

Buying and selling cryptocurrency is subject to a number of risks and may result in significant losses. Please see PayPal’s disclosure and Venmo’s disclosure for more details.

 PayPal and Venmo do not make any recommendations regarding buying and or selling cryptocurrency. Consider seeking advice from your financial and tax advisor. Some custody, trading, and transfer services for cryptocurrency are performed for PayPal and Venmo by our licensed service provider, Paxos Trust Company, LLC.  PayPal USD is issued by Paxos, not PayPal or Venmo, and is subject to the Paxos US Dollar-Backed Stablecoin Terms and Conditions.

Any cryptocurrencies you hold in your PayPal Balance or Venmo account are not eligible for FDIC insurance. 

Cryptocurrency activity is not a regulated activity in many U.S. states and territories. PayPal, Inc. is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Buying, selling, transferring, and holding cryptocurrency with PayPal and Venmo is not available in Hawaii and where prohibited by law.

All cryptocurrency prices shown are for illustrative purposes only.