PYUSDvsGHO
PayPal USD vs GHO — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
PYUSD — PayPal USD
GHO — GHO
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days PYUSD supply moved -2.4% and GHO +16.7% — GHO grew faster. PYUSD held the tighter band: worst deviation 5 bps against 26 bps.
Key differences
- PYUSD is roughly 4.0× larger than GHO by USD circulation value ($2.78B vs $697.5M).
- PYUSD ranks #9 while GHO ranks #17 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- PYUSD is a fiat-backed stablecoin; GHO is crypto-backed. Different mechanism, different failure modes.
- Reserves differ — PYUSD holds cash & t-bills (paypal), GHO holds overcollateralized (aave).
- PYUSD is deployed on 19 chains — much broader coverage than GHO's 2.
Full comparison table
| Metric | PYUSD | GHO |
|---|---|---|
| USD circulation value | $2.78B | $697.5M |
| Rank (by USD value) | #9 | #17 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Cash & T-bills (PayPal) | Overcollateralized (Aave) |
| Chains deployed | 19 | 2 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Paxos Trust Company (for PayPal) | Aave |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between PYUSD and GHO?
Both track USD, so they compete for the same use cases. PYUSD holds cash & t-bills (paypal); GHO holds overcollateralized (aave). PYUSD ranks #9 by USD value and GHO ranks #17.
Which is bigger, PYUSD or GHO?
PYUSD is larger, with $2.78B in circulation vs $697.5M for GHO. That's roughly 4.0× the size.
Is PYUSD safer than GHO?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. PYUSD uses a fiat-backed model; GHO uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between PYUSD and GHO?
Yes. PYUSD and GHO both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose PYUSD or GHO?
The right choice depends on your use case. Consider: which chain do you need? PYUSD is available on 19 chains and GHO on 2. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.