Coins Wiki: PYUSD (PayPal USD)

Token name

Metaverse

Ticker

PYUSD

Website

https://www.paypal.com/pyusd 

https://paxos.com/pyusd/ 

Network

PYUSD is an ERC-20 stablecoin 

Overview of Token

PYUSD & Stablecoin Overview

PYUSD is a USD-backed stablecoin on the Ethereum blockchain. Stablecoins are a type of cryptocurrency designed to have a steady value over time relative to a reference asset, for example, the U.S. dollar. They can provide inclusive, broad access to the financial system and can enable fast and efficient money movement. Stablecoins are programmable, offering developers a useful digital currency that can be built into public blockchains and can help link the traditional economy and Web3.

Regulation and Transparency

Paxos-issued stablecoin PYUSD – and its reserves – are subject to strict regulatory oversight by the New York State Department of Financial Services. 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. Customer assets are also protected from bankruptcy and fully segregated from corporate assets.

The Paxos-issued reserve reports and attestations for PayPal USD are published monthly. Attestation reports are issued by WithumSmith+Brown, PC, an independent third-party accounting firm. Withum’s examination is conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (AICPA).

About PayPal

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering hundreds of millions of consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.

About Paxos

Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way. For more information, visit paxos.com.

Advisors & Partners

PayPal, Paxos

Circulating Supply

$158,899,749.00 

Contract Address

0x6c3ea9036406852006290770BEdFcAbA0e23A0e8

Max Supply

158,956,937.45

Blockchain

Ethereum

Year in-corporated

2023