Encyclopedia Stablecoins · Entry 140
What is PYUSD? Issuance, backing and controls
In this article
At a glance
Key facts
| Fact | Detail | Source |
|---|---|---|
| Issuer disclosure | Paxos’s retrieved transparency page names Paxos Trust Company N.A. as issuer. | [1] |
| Report types | The page distinguishes Paxos portfolio reports from independent examinations. | [1] |
| Coverage | US deposit insurance does not insure crypto assets themselves. | [2] |
Read the dated reserve documents
Paxos publishes reserve-related materials for PYUSD. Its transparency page identifies portfolio composition reports released promptly after month-end as self-reported and not independently reviewed.
Use the specific examination report, period and scope when describing external assurance. A page listing both report types does not make every number on the page independently examined.
Check the actual asset before sending
A familiar symbol does not uniquely identify a contract. Verify the issuer-supported deployment and the receiving service’s supported network before transferring.
A token balance on a chain and a balance displayed inside a payment platform can have different custody and access conditions. Establish which product is being discussed.
Separate issuer evidence from a universal safety claim
Reserve transparency can help a reader inspect backing at a stated date. It does not eliminate operational, custody, contract or liquidity dependencies.
The issuer identity here reflects the page retrieved October 2, 2026. It should not be silently backdated to older reports that may name an earlier legal entity.
Direct answers
Questions people ask
Are all PYUSD reserve documents independent audits?
No. Paxos distinguishes its own portfolio reports from independent examination materials. Read each document’s title, date and assurance scope.
Inspect the evidence
The answer and key facts have stable claim links. These records retain the scope and qualification when reused.
PayPal USD, or PYUSD, is a dollar stablecoin identified in Paxos’s disclosures as issued by Paxos Trust Company N.A. A token balance should be evaluated through its issuer terms, exact network deployment and dated reserve evidence. The PayPal name does not by itself make the token an insured bank deposit or a yield-bearing investment.
Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T18:15:23.891Z.
Link to this claimIssuer disclosure: Paxos’s retrieved transparency page names Paxos Trust Company N.A. as issuer.
Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T18:15:23.891Z.
Link to this claimReport types: The page distinguishes Paxos portfolio reports from independent examinations.
Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T18:15:23.891Z.
Link to this claimCoverage: US deposit insurance does not insure crypto assets themselves.
Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T18:15:23.891Z.
Link to this claimRevision history
- — First publication after primary-source research and independent automated verification.
Source register
Sources and references
Retrieval dates and locators are recorded individually.- PayPal USD TransparencyPaxos
PYUSD issuer disclosures and dated reserve attestations.
Locator: Reserve reports; Issuer disclosures · Retrieved: 2026-10-02T17:03:43.402ZOpen source - What the Public Needs to Know About FDIC Deposit Insurance and Crypto CompaniesFederal Deposit Insurance Corporation
US FDIC coverage distinguishes insured-bank deposits from crypto products and nonbank failures.
Locator: Deposit insurance; Non-deposit products; Crypto companies · Version / scope: 2022 fact sheet; scope limited to US FDIC insurance · Retrieved: 2026-10-02T17:03:44.009ZOpen source - ERC-20 Token StandardEthereum Improvement Proposals
Token supply, displayed units and balance accounting.
Locator: totalSupply; balanceOf; transfer; decimals; approve; allowance; transferFrom; Transfer · Version / scope: ERC-20 · Retrieved: 2026-10-02T17:03:45.826ZOpen source
Research and drafting use AI assistance. A separate automated review checks claims against primary sources; no external expert or named human review is implied. Publication, substantive editing, source retrieval and verification are recorded separately. This version was independently checked by an automated reviewer on 2 October 2026.
Editorial method and correctionsDegrees of Satoshi editorial project. “What is PYUSD? Issuance, backing and controls.” Published 2026-10-02; updated 2026-10-02. https://degreesofsatoshi.com/encyclopedia/what-is-pyusd/