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Stablecoins

PayPal USD Stablecoin Surpasses $1 Billion Market Cap

PayPal USD Stablecoin Surpasses $1 Billion Market Cap

PayPal’s stablecoin, PayPal USD (PYUSD), has recently achieved a market cap exceeding $1 billion, according to CoinMarketCap.

Launched in 2023, PYUSD is a digital dollar equivalent backed 1:1 by actual US dollars and issued by Paxos Trust Company.

This stablecoin, which operates on Ethereum’s ERC-20 standard, is currently the only stablecoin integrated into PayPal’s payment ecosystem. It aims to cater to a broad range of Web3 applications and is supported by major platforms and exchanges.


READ MORE: Argentinian Schools to Introduce Ethereum and Blockchain Education


PayPal has been actively expanding PYUSD’s use, including collaborations with Anchorage Digital for reward programs and partnerships with Crypto.com and Phantom to launch it on the Solana blockchain.

Additionally, PayPal has joined forces with MoonPay to enable crypto purchases through PayPal accounts.

Despite these advances, PYUSD is still behind major stablecoins like Tether (USDT) and USD Coin (USDC), which dominate the market with significantly larger capitalizations.

Author
Alexander Stefanov - Editor-in-Chief at Coinspress
Alexander Stefanov

Reporter at CoinsPress

Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

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