USDCvsPYUSD
USD Coin vs PayPal USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDC — USD Coin
PYUSD — PayPal USD
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: USDC -1.6%, PYUSD -2.4%. Both held within about 5 bps of target across the same window.
Key differences
- USDC is roughly 26.0× larger than PYUSD by USD circulation value ($72.21B vs $2.78B).
- USDC ranks #2 while PYUSD ranks #9 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 — USDC holds cash & t-bills, PYUSD holds cash & t-bills (paypal).
- USDC is deployed on 154 chains — much broader coverage than PYUSD's 19.
Full comparison table
| Metric | USDC | PYUSD |
|---|---|---|
| USD circulation value | $72.21B | $2.78B |
| Rank (by USD value) | #2 | #9 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | Cash & T-bills (PayPal) |
| Chains deployed | 154 | 19 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Circle | Paxos Trust Company (for PayPal) |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDC and PYUSD?
Both track USD, so they compete for the same use cases. USDC holds cash & t-bills; PYUSD holds cash & t-bills (paypal). USDC ranks #2 by USD value and PYUSD ranks #9.
Which is bigger, USDC or PYUSD?
USDC is larger, with $72.21B in circulation vs $2.78B for PYUSD. That's roughly 26.0× the size.
Is USDC safer than PYUSD?
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 USDC and PYUSD?
Yes. USDC and PYUSD 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 USDC or PYUSD?
The right choice depends on your use case. Consider: which chain do you need? USDC is available on 154 chains and PYUSD on 19. 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.