Users deposit funds into PayPal account and receive PYUSD at a 1:1 rate.

PayPal is a financial technology company that is the principal architect of PYUSD - full-reserve fiat stablecoin that bring US dollar liquidity on-chain.

PayPal is a public company owned by its shareholders.

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Stablecoin issuers

PayPal

# PayPal Treasury Methodology

## 1. Overview

Treasury measures the total market value of assets held in onchain wallets controlled by PayPal, particularly those supporting the PYUSD ecosystem. It reflects the financial resources available to the project to fund operations, reward contributors, or manage liquidity. The metric encompasses all identified assets, including native tokens and ERC-20 assets, with values calculated based on aggregate holdings across designated treasury addresses.

## 2. Data sources

- **Blockchain events**: ERC-20 token transfers and native token transfers, covering Ethereum
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Treasury balance tracking

- **Purpose**: Calculate the daily quantity of each asset held within PayPal’s treasury wallets.
- **Logic**: ERC-20 token transfers and native token transfers are parsed for specific PayPal treasury addresses. Inbound and outbound transfer amounts are aggregated to determine net daily changes in holdings for each asset. These net changes are used to generate cumulative running balances for every unique address and asset combination. Asset quantities are normalized by decimal precision using asset metadata.
- **Key fields**: `account_address` (treasury identification), `token_address` (asset identification), `amount` (quantity)

### Component B: USD valuation and aggregation

- **Purpose**: Convert asset quantities into a unified USD value and aggregate the total treasury.
- **Logic**: Daily asset balances are multiplied by end-of-day price feeds to determine the USD value of each holding. These individual values are then summed across all identified treasury addresses and assets to produce a daily total project-level treasury metric. The data is processed using UTC day boundaries, and a zero-fill strategy is applied to ensure a continuous time series.
- **Key fields**: `balance` (USD value), `timestamp` (timing)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value of a project's onchain treasury, including its native token.

PayPal

Treasury

Treasury

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Chain breakdown