PYUSDvsUSYC
PayPal USD vs Circle USYC — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
PYUSD — PayPal USD
USYC — Circle USYC
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 USYC -14.6% — PYUSD grew faster. PYUSD held the tighter band: worst deviation 8 bps against 1374 bps.
Key differences
- PYUSD and USYC are similar in size — within 10% of each other by USD-equivalent value.
- PYUSD ranks #8 while USYC ranks #10 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- Both are fiat-backed stablecoins, so the mechanism is not what separates them.
- Reserves differ — PYUSD holds cash & t-bills (paypal), USYC holds tokenized us treasuries.
- PYUSD is deployed on 19 chains — much broader coverage than USYC's 2.
- Primary chain differs — most PYUSD supply lives on Ethereum, while most USYC supply is on BSC.
Full comparison table
| Metric | PYUSD | USYC |
|---|---|---|
| USD circulation value | $2.79B | $2.55B |
| Rank (by USD value) | #8 | #10 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills (PayPal) | Tokenized US Treasuries |
| Chains deployed | 19 | 2 |
| Primary chain | Ethereum | BSC |
| Issuer | Paxos Trust Company (for PayPal) | Circle |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between PYUSD and USYC?
Both track USD, so they compete for the same use cases. PYUSD holds cash & t-bills (paypal); USYC holds tokenized us treasuries. PYUSD ranks #8 by USD value and USYC ranks #10.
Which is bigger, PYUSD or USYC?
PYUSD is larger, with $2.79B in circulation vs $2.55B for USYC. That's roughly 1.1× the size.
Is PYUSD safer than USYC?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. Both use a fiat-backed model, so the difference sits in the issuer and the reserves rather than the design. Read each issuer's most recent reserve attestation before choosing.
Can I convert between PYUSD and USYC?
Yes. PYUSD and USYC 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 USYC?
The right choice depends on your use case. Consider: which chain do you need? PYUSD is available on 19 chains and USYC 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.