PYUSD0PYUSD0
PYUSD0, issued by Paxos Trust Company, N.A., is a U.S. dollar (USD) denominated stablecoin representing the omnichain fungible token form of PayPal USD, redeemable one for one for USD and transferable across blockchain networks. Holders receive a claim redeemable at a rate of $1.00 per token. The token is fully backed by reserves held in U.S. dollar deposits, U.S. Treasuries, and similar cash equivalents. Holders are not entitled to any interest or earnings on the assets backing the token. Paxos charges zero fees to institutions minting or redeeming PYUSD directly, and Paxos maintains custody of the assets backing the token. Paxos Trust Company, N.A. issues the token as a limited purpose trust company whose reserves and issuance are subject to prudential oversight by the New York State Department of Financial Services (NYDFS). Paxos self-reports reserve portfolio composition five business days after each month end, and publishes monthly attestation reports issued by KPMG LLP, an independent third-party accounting firm whose appointment NYDFS approved. Redemption is available one for one to institutions holding accounts with Paxos, the regulated issuer, which provides primary-market liquidity. The tokenholder's claim is a stablecoin redeemable directly with the issuer. PYUSD is an ERC-20 token incorporating EIP-3009 and EIP-2612 for offchain signature approvals. The omnichain representation uses the LayerZero Omnichain Fungible Token standard, moving tokens between Ethereum, Solana, and Arbitrum through a burn-and-mint mechanism that eliminates tokens on the source chain and mints an equivalent amount on the destination chain, completing within approximately five minutes.