USDGvsPYUSD
Global Dollar vs PayPal USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDG — Global Dollar
PYUSD — PayPal USD
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USDG supply moved +17.6% and PYUSD -2.4% — USDG grew faster. PYUSD held the tighter band: worst deviation 5 bps against 33 bps.
Key differences
- USDG is roughly 1.2× larger than PYUSD by USD circulation value ($3.42B vs $2.78B).
- USDG ranks #7 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 — USDG holds cash reserves (paxos), PYUSD holds cash & t-bills (paypal).
- PYUSD is deployed on 19 chains — much broader coverage than USDG's 6.
- Primary chain differs — most USDG supply lives on X Layer, while most PYUSD supply is on Ethereum.
Full comparison table
| Metric | USDG | PYUSD |
|---|---|---|
| USD circulation value | $3.42B | $2.78B |
| Rank (by USD value) | #7 | #9 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash reserves (Paxos) | Cash & T-bills (PayPal) |
| Chains deployed | 6 | 19 |
| Primary chain | X Layer | Ethereum |
| Issuer | Paxos Trust Company | Paxos Trust Company (for PayPal) |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDG and PYUSD?
Both track USD, so they compete for the same use cases. USDG holds cash reserves (paxos); PYUSD holds cash & t-bills (paypal). USDG ranks #7 by USD value and PYUSD ranks #9.
Which is bigger, USDG or PYUSD?
USDG is larger, with $3.42B in circulation vs $2.78B for PYUSD. That's roughly 1.2× the size.
Is USDG 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 USDG and PYUSD?
Yes. USDG 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 USDG or PYUSD?
The right choice depends on your use case. Consider: which chain do you need? USDG is available on 6 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.