PayPal USDPYUSD price and how to buy

What PYUSD is

PYUSD is a dollar stablecoin issued by Paxos for PayPal, backed by dollar deposits and short-term treasuries. One PYUSD is meant to be one dollar, and Paxos publishes reserve attestations.

On Solana it is built on Token-2022, the newer token standard, rather than the original one that USDC and USDT use. For swapping this makes no practical difference, but it is why PYUSD occasionally behaves differently in older wallets and tools.

It is a regulated issuer's stablecoin rather than a crypto-native one, which is the main reason to hold it over or alongside USDC.

What PYUSD is used for

• PYUSD is used the way any dollar stablecoin is used on Solana: as the thing you hold when you want to be out of a moving price without leaving the network.

• It appeals to people who would rather hold a regulated issuer's dollar than a crypto-native one. Paxos is a licensed trust company and publishes reserve attestations, which is a different arrangement from most stablecoins.

• It is the settlement token for a growing set of Solana applications, though far fewer than USDC. If something you use accepts PYUSD directly, holding it saves a conversion each way.

How PYUSD trades

PYUSD is considerably thinner on Solana than USDC or USDT. Small swaps behave exactly as you would expect from a dollar stablecoin, and larger ones do not: a five-figure trade can show price impact that would be invisible in USDC. The practical consequence is that PYUSD is fine to hold and more expensive to move in size, so the quote is worth reading closely on anything substantial.

Common mistakes

1. 1

   Treating every stablecoin as equally liquid is the expensive assumption here. They all aim at a dollar, but the cost of getting into and out of one at size varies enormously, and PYUSD is one of the thinner ones on Solana.

2. 2

   A centralised stablecoin can be frozen at specific addresses, and Paxos does so when ordered. That is a property of the asset rather than a fault, but it is not true of holding SOL and people are often surprised by it.

3. 3

   PYUSD on Solana uses Token-2022 rather than the original token standard. Everything here handles it, but older wallets and tools occasionally do not, and a token that appears to be missing is usually a tool that has not been updated.

4. 4

   The peg holding is an expectation, not a guarantee. It rests on the reserves existing and on Paxos remaining solvent and licensed, and a stablecoin that has always been worth a dollar has only ever been worth a dollar so far.

PYUSD — Contract address

Symbols on Solana are not unique: anyone can mint a token using the PYUSD ticker. Verify the mint address, never the name:

The swap panel on this page is already pointed at this mint.