About

PayPal USD is a payment stablecoin and is 100% backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents. PayPal USD is redeemable 1:1 for U.S. dollars and is issued by Paxos Trust Company.

History

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