PayPal’s PYUSD Stablecoin Market Cap Climbs to $3.8 Billion
PYUSD’s rapid growth, driven by PayPal’s broad network, made it the second fastest-growing stablecoin in Q3 2025, trailing only Ethena’s USDe.
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Summary
PayPal’s PYUSD stablecoin market capitalization increased from $1.2 billion in September to approximately $3.8 billion. Data shows supply grew 113% in November, while transactions surged 150% to 1.8 million. PYUSD ranked as the second fastest-growing stablecoin in Q3 2025, behind Ethena’s USDe, a trend attributed to PayPal’s extensive network reach.
Terms & Concepts
- Stablecoin: A cryptocurrency pegged to a stable asset, such as the U.S. dollar, to reduce price volatility.
- PYUSD: PayPal’s U.S. dollar-pegged stablecoin used for digital transactions and payments.
- Ethena’s USDe: A synthetic U.S. dollar stablecoin issued on Ethereum by Ethena, designed to maintain dollar parity.