PayPal USD (PYUSD)
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 53 → 76. Problems weighed by who is responsible: concerns that are not fraud −13.6, problems around the subject, caused by others −1.2; legitimacy credit long-running +6, regulated +10; fact-check adjustments (−15) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -13.6 |
| Problems around it, caused by others | -1.2 |
| Long-running | +6 |
| Regulated | +10 |
| Sum | 66 |
Score: 76/100 (kept between 0 and 100)
How scoring works →Summary
PayPal USD (PYUSD) is a US dollar-pegged stablecoin issued by Paxos Trust Company, a New York-chartered limited purpose trust company regulated by the NYDFS, and marketed by PayPal. Reserves are attested monthly by an independent accounting firm and are held in cash and short-term US Treasuries, with redemption rights subject to Paxos and PayPal compliance review. PYUSD carries the same centralization risks common to bank-issued stablecoins (issuer freeze and address-wipe functions) and its issuer, Paxos, has a prior NYDFS enforcement history tied to its Binance-branded BUSD stablecoin, though PYUSD itself has not been the subject of a depeg event, and a 2023 SEC subpoena into PYUSD was closed in February 2025 without enforcement action.
Connected Entities
3 entities · 60 linked investigations- PayPal USD (PYUSD)→mentioned with→Binance(70%)
- PayPal USD (PYUSD)→mentioned with→Solana(65%)
Timeline(11 events)
13 February 2023
NYDFS orders Paxos to stop minting Binance USD (BUSD), citing compliance and oversight failures related to Paxos's relationship with Binance.
CoinDesk7 August 2023
PayPal launches PayPal USD (PYUSD), issued by Paxos Trust Company and regulated by NYDFS.
PR Newswire / PayPalNovember 2023
PayPal discloses receipt of an SEC Division of Enforcement subpoena requesting documents related to PYUSD.
CoinDesk / TechCrunchFebruary 2025
SEC informs PayPal it is closing its inquiry into the 2023 PYUSD subpoena without enforcement action.
The Block18 July 2025
GENIUS Act signed into law, establishing the first comprehensive federal regulatory framework for US dollar-pegged payment stablecoins.
Congress.gov / Paul Hastings7 August 2025
NYDFS announces a settlement in which Paxos agrees to pay roughly $26.5 million in penalties over compliance and AML failures tied to Binance's BUSD.
CoinDeskDecember 2025
PYUSD integrates with YouTube creator payouts, reportedly contributing to a sharp rise in circulating supply.
Stablecoin Insider2026
PYUSD adds a Visa Direct and BVNK remittance integration, further expanding distribution.
Stablecoin InsiderDecision Log
- slot 457733426 · hash NaN7r3zQX8q2S3ToC8LWbuxeLjzfG3RUSWmgoUQtbjg
- slot 455371252 · hash EbDFDrEAnG5tSgVJ6n3adAL2Xe2GybrkLtH3y7vxqnrs
- slot 443524016 · hash 6rx5rAY7uVs1WyG9ZAKJUP5bHFJQAsNy2SFuSBedAhRz
- slot 443523981 · hash 46xJ4ib9NDFZ7gAHLdrkfJsNZBfp5dSjEmPLCk2xipCR
- slot 443501316 · hash 417mB2DEytsLmPqZZA3y2UDU7QXPow3gfq3VUe2VB15F
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 24 of 25 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 7/22/2026, 3:55:36 AM
last updated: 10/10/2026, 6:51:02 PM
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