What is PayPal USD (PYUSD)?
Issued by Paxos Trust Company, PayPal USD (PYUSD) is PayPal’s new stablecoin designed for payments.
PYUSD is an ERC-20 tokenized digital dollar. Like other crypto assets, it can move instantaneously, anywhere in the world, any time of any day, and it’s programmable. Unlike other crypto assets, PYUSD is stable. It is backed 1:1 for the dollar and it’s issued by the Paxos Trust Company, so the funds are carefully protected, audited and regulated.
PYUSD is a stablecoin
PYUSD is a USD-backed stablecoin and as such is a digital representation of USD. All Paxos powered USD-backed stablecoins have 1:1 parity with USD.
Which blockchain network hosts PYUSD?
PYUSD is hosted on the Ethereum blockchain (ERC-20)
How can I purchase PYUSD?
Note that at this time PYUSD may only be purchased from PayPal, Inc
How can I redeem PYUSD?
Please refer to How to Fund Your Account with Digital (Crypto) Assets
Once your PYUSD deposit is complete you may withdraw USD following the steps noted in Withdrawing from my Paxos account
How many confirmations are needed for PYUSD?
PYUSD transactions require 12 network confirmations.
Is PYUSD regulated?
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.