PYUSDvsU
PayPal USD vs United Stables — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
PYUSD — PayPal USD
U — United Stables
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 U +17.4% — U grew faster. PYUSD held the tighter band: worst deviation 5 bps against 9 bps.
Key differences
- PYUSD is roughly 2.3× larger than U by USD circulation value ($2.78B vs $1.21B).
- PYUSD ranks #9 while U ranks #15 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; U is crypto-backed. Different mechanism, different failure modes.
- Reserves differ — PYUSD holds cash & t-bills (paypal), U holds stablecoin basket.
- PYUSD is deployed on 19 chains — much broader coverage than U's 3.
- Primary chain differs — most PYUSD supply lives on Ethereum, while most U supply is on BSC.
Full comparison table
| Metric | PYUSD | U |
|---|---|---|
| USD circulation value | $2.78B | $1.21B |
| Rank (by USD value) | #9 | #15 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Cash & T-bills (PayPal) | Stablecoin basket |
| Chains deployed | 19 | 3 |
| Primary chain | Ethereum | BSC |
| Issuer | Paxos Trust Company (for PayPal) | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between PYUSD and U?
Both track USD, so they compete for the same use cases. PYUSD holds cash & t-bills (paypal); U holds stablecoin basket. PYUSD ranks #9 by USD value and U ranks #15.
Which is bigger, PYUSD or U?
PYUSD is larger, with $2.78B in circulation vs $1.21B for U. That's roughly 2.3× the size.
Is PYUSD safer than U?
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; U uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between PYUSD and U?
Yes. PYUSD and U 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 U?
The right choice depends on your use case. Consider: which chain do you need? PYUSD is available on 19 chains and U on 3. 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.