PayPal USD vs Ripple USD — side-by-side comparison of supply, chains, backing, and peg data.
| Metric | PYUSD | RLUSD |
|---|---|---|
| USD circulation value | $2.66B | $1.59B |
| Rank (by USD value) | #9 | #12 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills (PayPal) | Cash & deposits (Ripple) |
| Chains deployed | 19 | 2 |
| Primary chain | Ethereum | XRPL |
| Issuer | PayPal USD | Ripple USD |
| CoinGecko | View → | View → |
Both PYUSD and RLUSD track USD, but they differ in backing and issuer. PYUSD is backed by cash & t-bills (paypal) while RLUSD is backed by cash & deposits (ripple). As of today, PYUSD ranks #9 and RLUSD ranks #12 among tracked stablecoins.
PYUSD is larger, with $2.66B in circulation vs $1.59B for RLUSD. That's roughly 1.7× the size.
Neither PYUSD nor RLUSD is inherently "safer" — safety depends on the specific backing composition, issuer transparency, redemption rights, and regulatory oversight. PYUSD uses fiat-backed backing model; RLUSD uses fiat-backed. Users should read each issuer's most recent reserve attestation before choosing.
Yes. PYUSD and RLUSD 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.
The right choice depends on your use case. Consider: which chain do you need? PYUSD is available on 19 chains and RLUSD 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.