What is PayPal USD (PYUSD)?
PayPal USD (PYUSD) is a type of cryptocurrency called a stablecoin and is fully backed by US dollar deposits, US treasuries, and similar cash equivalents. You will be able to buy and sell 1 PYUSD for 1 USD on PayPal and Venmo.
What can I do with PayPal USD?
You can buy or sell PayPal USD on PayPal, using your PayPal balance, debit card, or a PayPal-linked debit card or cash out to local currencies limitations apply.
You may also be able to earn rewards on PYUSD you hold on PayPal or Venmo. Learn more about PYUSD rewards.
Where is PYUSD available?
PYUSD is currently available to consumer and business account holders across multiple global regions, including Asia-Pacific, Europe, Latin America, and North America. This includes Colombia, Costa Rica, Dominican Republic, Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore, the United Kingdom, and the United States. PayPal users in the remaining markets will have access to PYUSD in the coming weeks.
How do PYUSD Rewards Work?
PYUSD Rewards are accrued based on the average daily balance of PYUSD in your PayPal account and paid out monthly in PYUSD directly to your PayPal crypto wallet. If you withdraw (i.e. transfer or sell) all your PYUSD, you will still be paid out any reward that you have earned that month.
The reward rate is variable, and you can view the current reward rate in the PayPal app or within your account's Crypto section.
Visit What are PYUSD Rewards? for more information.
What are the fees for PayPal USD?
There are no fees to buy or sell PYUSD using USD, and no fees to send or receive PYUSD between PayPal or Venmo accounts. Terms apply for transactions in non-USD currency.
Learn more about Cryptocurrency Fees and Pricing.
How is PayPal USD backed?
PayPal USD is fully backed by US dollar deposits, US treasuries, and similar cash equivalents. On PayPal, you will be able to buy and sell 1 PYUSD for 1 USD.
Are PayPal USD transactions taxable?
Your sale of PayPal USD may have tax consequences. Information provided by PayPal is not intended to be and should not be construed as tax advice. For questions about your specific tax situation, please consult a tax professional.
Do I have any reimbursement if there is an unauthorized transfer of my PayPal USD?
Yes. PayPal works to prevent unauthorized transfers of cryptocurrency assets. We’ll reimburse you for unauthorized transfers out of your cryptocurrency hub in the form and quantity of the PYUSD cryptocurrency asset that was removed from your account, up to a maximum lifetime cap of an equivalent of $50,000.00 US dollars over the life of the account holder. Reimbursement is subject to the terms, conditions, and limitations. Reimbursement is a warranty of our services and is not insurance.
On what blockchains is PayPal USD issued?
PayPal USD is issued by Paxos on the Ethereum, Solana, Stellar and Arbitrum blockchains. We have big plans for PYUSD and believe it will help connect the traditional economy and Web3. Whenever you receive PYUSD from PayPal or a PayPal account, it’s authentic.
If you receive PYUSD on the Ethereum, Arbitrum, Stellar or Solana blockchain, you can verify it is authentic by making sure the contract address matches one of the following addresses:
- Ethereum (ERC-20): 0x6c3ea9036406852006290770BEdFcAbA0e23A0e8
- Solana (SPL): 2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo
- Stellar: GDQE7IXJ4HUHV6RQHIUPRJSEZE4DRS5WY577O2FY6YQ5LVWZ7JZTU2V5
- Arbitrum One: 0x46850aD61C2B7d64d08c9C754F45254596696984
Where is PYUSD available?
PYUSD is now available to users in their PayPal accounts across multiple global regions, including Asia-Pacific, Europe, Latin America, and North America. This includes Colombia, Costa Rica, Dominican Republic, Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore*, the United Kingdom, and the United States. PayPal users in the remaining markets will have access to PYUSD in the coming weeks.