PYUSDvsUSDX
PayPal USD vs USDX Money USDX — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
PYUSD — PayPal USD
USDX — USDX Money USDX
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 +1.7% and USDX +0.0% — PYUSD grew faster. PYUSD held the tighter band: worst deviation 8 bps against 9912 bps.
Key differences
- PYUSD is roughly 4.1× larger than USDX by USD circulation value ($2.79B vs $683.4M).
- PYUSD ranks #8 while USDX ranks #18 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; USDX is crypto-backed. Different mechanism, different failure modes.
- PYUSD reports cash & t-bills (paypal) in reserve. We do not track a published reserve breakdown for USDX.
- PYUSD is deployed on 19 chains — much broader coverage than USDX's 3.
- Primary chain differs — most PYUSD supply lives on Ethereum, while most USDX supply is on BSC.
Full comparison table
| Metric | PYUSD | USDX |
|---|---|---|
| USD circulation value | $2.79B | $683.4M |
| Rank (by USD value) | #8 | #18 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Cash & T-bills (PayPal) | — |
| 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 USDX?
Both track USD, so they compete for the same use cases. PYUSD holds cash & t-bills (paypal). We track no published reserve breakdown for USDX. PYUSD ranks #8 by USD value and USDX ranks #18.
Which is bigger, PYUSD or USDX?
PYUSD is larger, with $2.79B in circulation vs $683.4M for USDX. That's roughly 4.1× the size.
Is PYUSD safer than USDX?
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; USDX uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between PYUSD and USDX?
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.
Should I choose PYUSD or USDX?
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.