PayPal\'s PYUSD Stablecoin Sees Supply Surge to Over Half a Billion Tokens

PayPal’s PYUSD stablecoin has seen its supply surge to over half a billion tokens. This significant increase marks a milestone for the U.S. dollar-pegged currency

PayPal’s PYUSD stablecoin has now crossed the half-billion mark in total supply. This massive increase in supply comes almost a year after the U.S. dollar-pegged currency was launched in August 2023 through a partnership with Paxos.

As of July 2024, the growth follows its integration into the Solana network in May, leading to PYUSD becoming one of the top ten stablecoin issuers worldwide.

PayPal’s PYUSD Stablecoin Supply Surges to Half a Billion

After rolling out PYUSD, its supply reached 230 million by the close of 2023. However, the total supply of the stablecoin has surged by over 100% since then. In fact, the past month alone saw a 97% increase in supply, rising from 270 million on June 26 to over 533 million.

This growth has seen PayPal become one of the leading stablecoin issuers globally, rivaling Tether USD.

Network Integrations Boost Stablecoin Growth

The stablecoin’s integration into the Solana network has played a major role in its recent surge. Out of the total supply, around 134.5 million PYUSD tokens are now hosted on Solana, which comprises 25.2% of the total circulating supply. Furthermore, there are close to 399 million PYUSD stablecoins circulating on Ethereum.

PYUSD’s adoption on centralized exchanges like Crypto.com and its integration into decentralized finance protocols such as Curve and Frax have also been key to its rapid growth in the market.

большую часть PYUSD на Ethereum держит Paxos - 112 млн токенов. Далее следует биржа Crypto.com со 103 млн. Среди других крупных держателей - Defiance Capital (35 млн), BitGo (14,8 млн) и Curve (14 млн).

These large holdings and network integrations highlight PYUSD’s growing footprint within the digital asset ecosystem.

PayPal’s PYUSD continues to expand its presence in the market, driven by strategic network integrations and strong market adoption. Its rapid increase in supply marks a growing role for PayPal in the digital economy as it advances in its foray into the cryptocurrency space.

Also Read: MoonPay Enables PayPal for Crypto Transactions in UK and EU

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