PayPal’s U.S. dollar-pegged stablecoin, PYUSD — launched in August 2023 through a partnership with custodian firm Paxos — has seen its market supply exceed half a billion tokens.
Notably, in the past month, the stablecoin's supply increased by 97% — rising from 270 million on June 26 to now over 533 million. This places PayPal among the top ten stablecoin issuers, with Tether USD leading the niche with a supply of over 112 billion.