PayPal USD vs USDX Money USDX — side-by-side comparison of supply, chains, backing, and peg data.
| Metric | PYUSD | USDX |
|---|---|---|
| USD circulation value | $2.66B | $683.4M |
| Rank (by USD value) | #9 | #17 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Cash & T-bills (PayPal) | CDP-backed |
| Chains deployed | 19 | 3 |
| Primary chain | Ethereum | BSC |
| Issuer | PayPal USD | USDX Money USDX |
| CoinGecko | View → | View → |
Both PYUSD and USDX track USD, but they differ in backing and issuer. PYUSD is backed by cash & t-bills (paypal) while USDX is backed by cdp-backed. As of today, PYUSD ranks #9 and USDX ranks #17 among tracked stablecoins.
PYUSD is larger, with $2.66B in circulation vs $683.4M for USDX. That's roughly 3.9× the size.
Neither PYUSD nor USDX is inherently "safer" — safety depends on the specific backing composition, issuer transparency, redemption rights, and regulatory oversight. PYUSD uses fiat-backed backing model; USDX uses crypto-backed. Users should read each issuer's most recent reserve attestation before choosing.
Yes. PYUSD and USDX 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 USDX 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.