PayPal USD or PYUSD is a stablecoin launched by PayPal and issued by Paxos Trust Company that is pegged to the US dollar. This pegging mechanism ensures that PYUSD has a value equivalent to $1 regardless of crypto market volatility.

Paxos Trust Company is a New York-based financial institution and technology company specializing in blockchain technology. It issues PYUSD and updates the monthly PYUSD-based reports (available to the public through its official website).

When it comes to stablecoins, asset backup is important to maintain their price with their pegged assets. PYUSD is backed by cash equivalents, US dollar deposits, and US treasuries, and its reports are transparent to the public Link.