cryptopromisespromises, checked
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PayPal USD

PYUSD#36 by market cap

Not covered. The criterion it missed: no roadmap or documentation page linked from the homepage.

Hot: funding
#7of 35 fiat-backed stablecoinsthe typical one is worth $187.49M#35of all coins by sizeworth $2.87B today16.06Kpeople keep it on a watchliston CoinGecko, a measure of attentionAll outof the supply is in public handsnothing is held back to release later

PayPal USD is for a stable digital dollar. We have not written its record yet, so its promises are not checked. It trades at $0.9999, #35 of all coins by size, 2% below its highest ever price.

This week in the news: funding.

No stated job or named backing. No dated promises on its pages. Nothing dated ahead. #7 of 35 fiat-backed stablecoins. Nothing to be careful of on the record.

Is it real?

0 of 4tests passeda real job, real backing, something ahead, room to grow
nonenamed backersno investor or index on file
2 yearson the marketsince 23 October 2023
16.06Kpeople watch iton CoinGecko lists
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0 of 4

  • –A real-world jobDoes it say what problem it solves, in a category that is not a joke?
  • –Real backingA named investor, an index, a major exchange, or a billion-dollar size.
  • –Something aheadA dated step, deliveries on record, or demand showing up in the news.
  • –Room to growWorth at least four times less than the biggest coin doing the same job, so the gap is real, not a guess.

Listed on 5 big exchanges

  • Origin23 October 2023about about 2 yearsTagged Made in USA on CoinGeckopaypal.com/us/digital-wallet/manage-money/crypto/pyusd, Whitepaper
  • DevelopersNot namedNeither Wikidata nor its listing names the foundersNo public code repository listed
  • BackingNo named investorListed on Crypto.com, Kraken, OKX, Bybit
  • Standing on the recordNo recordNo dated promise to judge yet12 headlines last month, 3 about government16,063 people keep it on a CoinGecko watchlistNo corrections needed so far
The gap, and what to do

It is already worth more than the typical coin in Fiat-backed Stablecoin ($187.49M). To match the leader, Tether ($183.37B), its price would need to rise 6284%, to about $63.84.

Still to check

  • No dated promise on record yet, so delivery cannot be judged
  • No named investor among its tags
  • Years younger than the group's leader

What to do Nothing dated is ahead and nothing has been delivered on record. There is no event to wait for yet, which is itself the answer.

A gap is not a forecast. Most small coins never close it. The site never picks.

Four tests, printed. Passing all four means a real job, real backing, something ahead, and a price far below the leader of its group. A filter on facts, never a verdict.

Every line has a source: the coin's own listing, CoinGecko's tags, the record, or the news feed. Reputation here is a count, never an opinion.

Does it deliver?

No dated promise has been found on the pages this project publishes. Its pages are saved every night, so anything it commits to from now on appears here.

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Every line is quoted from the project's own pages, with the copy we stored and, where one exists, the article that reported it

What is next, and when?

Nothing dated has been found on its pages, so there is no date to wait for yet.

How big is it next to its rivals?

#7of 35 fiat-backed stablecoinsthe typical one is worth $187.49M
$2.87Bworth todayprice × coins out
$187.49Mthe typical rival is worthFiat-backed Stablecoin
$183.37Bthe leader is worthTether
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Only coins within a hundred times its worth; a coin a thousand times bigger is another world

A stable digital dollar

194 coins tagged Stablecoins, worth $309.33B together. #8 of 194 by worth.

Fiat-backed Stablecoin: this coin against its direct competitors

  • CoinWorth, as a barWorthAgainst this coinToday, and the gapSupplyPromises
  • PayPal USD$2.87Bthis coin+0.0%no maxno record
  • Tether$183.37B63.8× bigger, +$180.5B+0.0%, gap −0.0no maxnone dated
  • USDC$74.3B25.9× bigger, +$71.42B−0.0%, gap −0.0no maxnone dated
  • USDS$9.86B3.4× bigger, +$6.99B+0.0%, gap −0.0no maxno record
  • Ethena USDe$4.68B1.6× bigger, +$1.8B+0.0%, gap −0.0no maxno record
  • Dai$4.59B1.6× bigger, +$1.71B−0.0%, gap −0.0no maxnone dated
  • Global Dollar$3.32B1.2× bigger, +$443.66M+0.0%, gap −0.0no maxnone dated
  • Ripple USD$2.37B1.2× smaller, −$498.82M+0.0%, gap −0.0no maxno record
Same job, different how

Fiat-backed Stablecoin: this coin next to Tether, the biggest rival within reach. People go to the bigger coin unless the smaller one does something it does not.

PayPal USD says
PayPal USD is designed to contribute to the opportunity stablecoins offer for payments and is 100% backed by U.S.
Tether says
Tether is a platform that lets people use regular currencies, like the US dollar, in digital form on blockchains.

Two claims, side by side, in their own words. Whether the difference is real is for the record to show over time, and for you to judge.

What it is

PayPal USD is designed to contribute to the opportunity stablecoins offer for payments and is 100% backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents.

Problem it says it solves: a stable digital dollar. 194 coins are working on it and together they are worth $309,327,253,815. This coin is 1% of that.

Where it trades: Crypto.com, Kraken, OKX, Bybit, KuCoin

Each bar is a coin's worth today (price × coins out), longest first. The lit bar is this coin; grey bars are the others doing the same job.

Bars are market cap. Order is size, nothing else. Differences are measured from the coin you are looking at.

What should make me careful?

Nothing printed today

None of the six tests fails. A missed promise counts only on a record a person has checked.

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Why is it this small?

Fiat-backed Stablecoin: this coin next to the group's largest, Tether.

PayPal USDTether
Years trading3 years12 years
Major exchanges57
Named backers00
Headlines, last month12185
Promises deliveredno recordno record

What it says is different: PayPal USD is designed to contribute to the opportunity stablecoins offer for payments and is 100% backed by U.S. dollar deposits, short-term U.S Treasuries and similar cash equivalents.

It is 1.6% the size of Tether. On the facts above it is behind on years trading, major exchanges, headlines, last month. For that gap to close, the record would need deliveries showing up in its record. Nothing here says it will; the site does not predict.

The tests: nothing to hold it for, more missed than delivered, priced ahead of its record, half the supply still to come, rivals ship while it does not, a big release of coins soon.

The homework: the coin itself, the news, the record

The coin itself

$0.9999price of one+0.0% today
2%below its highest ever$1 on 23 October 2023
100%of the supply is out2.87B coins
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The last 7 days

7 days ago: $0.9998now: $0.9999 (+0.0%)

Where today sits against its highest ever price

$0.9999

Highest ever: $1.02 on 23 October 2023. Today is 98% of that.

100%

of all PYUSD that will ever exist is already out in public hands: 2.87B coins.

Nothing is held back. Every coin is already out.

out held back. Each dot is 1%.

Meant to stay at one dollar

Holding it is holding a copy of a dollar. It is not built to rise.

  • Nothing the project's own pages spell out.
$0.9999price of one
×
2.87Bcoins out
=
$2.87Bworth today, #35 of all coins

That is all a market cap is: today's price times the coins in public hands. It moves every time the price does. It says what buyers are paying, not what the coin is worth.

Basics
  • 2.87Bin circulation of 2.87B total. No hard maximum is set, so more can be created.
  • 98%of its all-time high of $1.02 on 23 October 2023. That is −2.0% from the top.
  • #35by market cap, $2,872,198,208.
  • Not checkedwho holds the most coins, and how much has been burned. Those need on-chain data this site does not read yet.

Supply and value figures from CoinGecko, refreshed hourly. Not part of the record.

What the news says

12headlines, last monththat name this coin
3about governmentregulation, courts, central banks
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Headlines per day, last 30 days

12 headlines named this coin in the last month.

What they were about

  • Stablecoin7
  • Lawsuit3
  • Partnership3
  • Upgrade2
  • Treasury2
  • Price1
In the news
What people are talking about, last month:

12 headlines in the last month.

Headlines are the publishers' own. News is never placed next to price.

The record itself

Not covered. The criterion it missed: no roadmap or documentation page linked from the homepage.

Pages savednot yetno roadmap page found
Promisesnone yetno record drafted
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Six facts, the project's own replies, its peers, contract facts, references and every stored copy