Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»PayPal’s Stablecoin Surpasses $500M Market Cap as Solana Scales
ADOPTION NEWS

PayPal’s Stablecoin Surpasses $500M Market Cap as Solana Scales

By Crypto FlexsJuly 9, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
PayPal’s Stablecoin Surpasses 0M Market Cap as Solana Scales
Share
Facebook Twitter LinkedIn Pinterest Email

PayPal’s US dollar-pegged stablecoin, korean:

-0.10%
— Launched in August 2023 in partnership with custody company Paxos, with a market supply of over 500 million tokens.

Since its launch, PYUSD’s supply has reached 230 million by the end of 2023. Since then, the stablecoin’s total supply has more than doubled, surpassing 500 million (or $500 million) this month, according to DeFiLlama data.

In particular, stablecoin supply has increased by 97% in the past month, from 270 million on June 26 to over 533 million today. This puts PayPal in the top 10 stablecoin issuers, while Tether USD leads the field with over 112 billion in supply.

PYUSD’s growth surge came after it expanded to the Solana network in May. A few months later, Solana hosts about 134.5 million PYUSD tokens, or 25.2% of the total supply. Meanwhile, there are about 399 million PYUSD stablecoins on Ethereum, according to The Block’s pricing page.

Adoption of PYUSD by centralized exchanges like Crypto.com and integration into decentralized finance protocols like Curve and Frax also appear to have contributed to the stablecoin’s growth over the past year.

Currently, Paxos holds the largest portion of PYUSD on Ethereum, holding 112 million tokens, or over 20% of the total supply. Crypto.com exchange is next with 103 million, Defiance Capital with 35 million, BitGo with 14.8 million, and Curve with 14 million, according to on-chain data provided by Nansen.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Bitfinex Alpha | Bitcoin ETF inflows are moderate, but altcoins are not losing their luster

April 22, 2024

As ETF options launch approaches, Bitcoin price analysis shows it is down $94,000.

November 19, 2024

Fantom’s Polter Finance ‘paused’ after massive hack: What we know

November 19, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.