How Paypal Is Racing To Keep Its Lead In Stablecoins With PYUSD

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Less than 1% of stablecoin activity is actual payments, so PayPal has the one distribution channel most issuers are still trying to fake: merchant checkout. PYUSD is only ~$2.7B outstanding on DeFiLlama, mostly Ethereum/Solana/Arbitrum, but a 4% in-app reward and rollout to ~70 markets can turn dormant wallet balances into subsidized settlement inventory. DeFi adoption is the weak leg; without deeper routing, lending, and collateral markets, PYUSD remains PayPal balance-sheet plumbing with a token wrapper.

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How Paypal Is Racing To Keep Its Lead In Stablecoins With PYUSD

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State Street and Galaxy to launch tokenized liquidity fund, SWEEP on Solana in 2026. The fund will run on Solana at launch and use PYUSD. Ondo Finance committed about $200 million to seed the tokenized liquidity fund, which will later expand to other chains.

DeFi giant Spark drops its crypto app plans to double down on institutional liquidity infrastructure, pivoting toward major deals like its $1B PYUSD investment.

At 3:12 PM EST, Paxos mistakenly minted $300 trillion excess PYUSD as part of an internal transfer. Paxos immediately identified the error and burned the excess PYUSD with no impact to customer funds.

Sui integrates with LayerZero. The integration is set to unlock access to $80B+ in assets (WBTC, PYUSD, Ethena & more) for builders and users.

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How to Earn

More on $PYUSD

Spark seeds Uniswap v4 with $150M in USDS-PYUSD and USDS-USDT liquidity for stablecoin FX layer

PayPal takes PYUSD global, expanding its stablecoin from two countries to 70 in one shot

State Street and Galaxy to launch tokenized liquidity fund, SWEEP on Solana in 2026. The fund will run on Solana at launch and use PYUSD. Ondo Finance committed about $200 million to seed the tokenized liquidity fund, which will later expand to other chains.

DeFi giant Spark drops its crypto app plans to double down on institutional liquidity infrastructure, pivoting toward major deals like its $1B PYUSD investment.

At 3:12 PM EST, Paxos mistakenly minted $300 trillion excess PYUSD as part of an internal transfer. Paxos immediately identified the error and burned the excess PYUSD with no impact to customer funds.

Sui integrates with LayerZero. The integration is set to unlock access to $80B+ in assets (WBTC, PYUSD, Ethena & more) for builders and users.

Spark seeds Uniswap v4 with $150M in USDS-PYUSD and USDS-USDT liquidity for stablecoin FX layer

PayPal takes PYUSD global, expanding its stablecoin from two countries to 70 in one shot

State Street and Galaxy to launch tokenized liquidity fund, SWEEP on Solana in 2026. The fund will run on Solana at launch and use PYUSD. Ondo Finance committed about $200 million to seed the tokenized liquidity fund, which will later expand to other chains.

DeFi giant Spark drops its crypto app plans to double down on institutional liquidity infrastructure, pivoting toward major deals like its $1B PYUSD investment.

At 3:12 PM EST, Paxos mistakenly minted $300 trillion excess PYUSD as part of an internal transfer. Paxos immediately identified the error and burned the excess PYUSD with no impact to customer funds.

Sui integrates with LayerZero. The integration is set to unlock access to $80B+ in assets (WBTC, PYUSD, Ethena & more) for builders and users.

How Paypal Is Racing To Keep Its Lead In Stablecoins With PYUSD

Explore the topic

More on $PYUSD

Spark seeds Uniswap v4 with $150M in USDS-PYUSD and USDS-USDT liquidity for stablecoin FX layer

PayPal takes PYUSD global, expanding its stablecoin from two countries to 70 in one shot

State Street and Galaxy to launch tokenized liquidity fund, SWEEP on Solana in 2026. The fund will run on Solana at launch and use PYUSD. Ondo Finance committed about $200 million to seed the tokenized liquidity fund, which will later expand to other chains.

DeFi giant Spark drops its crypto app plans to double down on institutional liquidity infrastructure, pivoting toward major deals like its $1B PYUSD investment.

At 3:12 PM EST, Paxos mistakenly minted $300 trillion excess PYUSD as part of an internal transfer. Paxos immediately identified the error and burned the excess PYUSD with no impact to customer funds.

Sui integrates with LayerZero. The integration is set to unlock access to $80B+ in assets (WBTC, PYUSD, Ethena & more) for builders and users.

Spark seeds Uniswap v4 with $150M in USDS-PYUSD and USDS-USDT liquidity for stablecoin FX layer

PayPal takes PYUSD global, expanding its stablecoin from two countries to 70 in one shot

State Street and Galaxy to launch tokenized liquidity fund, SWEEP on Solana in 2026. The fund will run on Solana at launch and use PYUSD. Ondo Finance committed about $200 million to seed the tokenized liquidity fund, which will later expand to other chains.

DeFi giant Spark drops its crypto app plans to double down on institutional liquidity infrastructure, pivoting toward major deals like its $1B PYUSD investment.

At 3:12 PM EST, Paxos mistakenly minted $300 trillion excess PYUSD as part of an internal transfer. Paxos immediately identified the error and burned the excess PYUSD with no impact to customer funds.

Sui integrates with LayerZero. The integration is set to unlock access to $80B+ in assets (WBTC, PYUSD, Ethena & more) for builders and users.

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Total stats

How to Earn

More on $PYUSD

Spark seeds Uniswap v4 with $150M in USDS-PYUSD and USDS-USDT liquidity for stablecoin FX layer

PayPal takes PYUSD global, expanding its stablecoin from two countries to 70 in one shot

State Street and Galaxy to launch tokenized liquidity fund, SWEEP on Solana in 2026. The fund will run on Solana at launch and use PYUSD. Ondo Finance committed about $200 million to seed the tokenized liquidity fund, which will later expand to other chains.

DeFi giant Spark drops its crypto app plans to double down on institutional liquidity infrastructure, pivoting toward major deals like its $1B PYUSD investment.

At 3:12 PM EST, Paxos mistakenly minted $300 trillion excess PYUSD as part of an internal transfer. Paxos immediately identified the error and burned the excess PYUSD with no impact to customer funds.

Sui integrates with LayerZero. The integration is set to unlock access to $80B+ in assets (WBTC, PYUSD, Ethena & more) for builders and users.

Spark seeds Uniswap v4 with $150M in USDS-PYUSD and USDS-USDT liquidity for stablecoin FX layer

PayPal takes PYUSD global, expanding its stablecoin from two countries to 70 in one shot

State Street and Galaxy to launch tokenized liquidity fund, SWEEP on Solana in 2026. The fund will run on Solana at launch and use PYUSD. Ondo Finance committed about $200 million to seed the tokenized liquidity fund, which will later expand to other chains.

DeFi giant Spark drops its crypto app plans to double down on institutional liquidity infrastructure, pivoting toward major deals like its $1B PYUSD investment.

At 3:12 PM EST, Paxos mistakenly minted $300 trillion excess PYUSD as part of an internal transfer. Paxos immediately identified the error and burned the excess PYUSD with no impact to customer funds.

Sui integrates with LayerZero. The integration is set to unlock access to $80B+ in assets (WBTC, PYUSD, Ethena & more) for builders and users.