PYUSDvsUSX
PayPal USD vs Solstice USX — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
PYUSD — PayPal USD
USX — Solstice USX
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Supply moved almost identically over the last 30 days: PYUSD -2.4%, USX -2.1%. PYUSD held the tighter band: worst deviation 5 bps against 10 bps.
Key differences
- PYUSD is roughly 5.5× larger than USX by USD circulation value ($2.78B vs $506.6M).
- PYUSD ranks #9 while USX ranks #20 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; USX is crypto-backed. Different mechanism, different failure modes.
- Reserves differ — PYUSD holds cash & t-bills (paypal), USX holds overcollateralized cdp.
- PYUSD is deployed on 19 chains — much broader coverage than USX's 1.
- Primary chain differs — most PYUSD supply lives on Ethereum, while most USX supply is on Solana.
Full comparison table
| Metric | PYUSD | USX |
|---|---|---|
| USD circulation value | $2.78B | $506.6M |
| Rank (by USD value) | #9 | #20 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Cash & T-bills (PayPal) | Overcollateralized CDP |
| Chains deployed | 19 | 1 |
| Primary chain | Ethereum | Solana |
| Issuer | Paxos Trust Company (for PayPal) | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between PYUSD and USX?
Both track USD, so they compete for the same use cases. PYUSD holds cash & t-bills (paypal); USX holds overcollateralized cdp. PYUSD ranks #9 by USD value and USX ranks #20.
Which is bigger, PYUSD or USX?
PYUSD is larger, with $2.78B in circulation vs $506.6M for USX. That's roughly 5.5× the size.
Is PYUSD safer than USX?
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; USX uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between PYUSD and USX?
Yes. PYUSD and USX 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 USX?
The right choice depends on your use case. Consider: which chain do you need? PYUSD is available on 19 chains and USX on 1. 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.