The blockchain ecosystem continues to evolve with major financial institutions embracing digital assets. One notable development is the integration of PayPal USD (PYUSD) — a regulated, dollar-backed stablecoin — into mainstream blockchain infrastructure. Tokenview, a leading multi-chain blockchain explorer, has officially launched support for PYUSD, enabling users and developers to monitor its on-chain activity in real time.
This move enhances transparency and accessibility for one of the most anticipated stablecoins in the Web3 space, backed by global fintech giant PayPal. With this update, Tokenview reinforces its position as a comprehensive data platform for tracking emerging digital assets across multiple blockchains.
What Is PYUSD?
PayPal USD (PYUSD) is a U.S. dollar-pegged stablecoin issued by Paxos Trust Company and backed by PayPal. Launched in August 2023, PYUSD operates as an ERC-20 token on the Ethereum blockchain, making it compatible with a vast range of decentralized applications (dApps), wallets, and DeFi protocols.
Each PYUSD token is fully collateralized by reserves consisting of U.S. dollars, short-term U.S. Treasuries, and cash equivalents, ensuring a 1:1 peg to the U.S. dollar. This regulatory-compliant structure sets PYUSD apart from many other stablecoins, positioning it as a trusted bridge between traditional finance and the crypto economy.
PYUSD can be bought, sold, and held directly within the PayPal app or website, offering millions of users seamless access to blockchain-based payments and transfers without needing external wallets or exchanges.
👉 Discover how PYUSD is shaping the future of digital payments
Why PYUSD Matters in the Crypto Ecosystem
The introduction of PYUSD marks a pivotal moment in the convergence of mainstream finance and decentralized technologies. As one of the first stablecoins launched by a major fintech company with global reach, PYUSD brings credibility, compliance, and scalability to the crypto space.
Its primary use cases include:
- Cross-border remittances with lower fees and faster settlement
- On-chain purchases via PayPal’s extensive merchant network
- Integration into Web3 applications, including DeFi lending platforms and NFT marketplaces
- Serving as a low-volatility on-ramp for new crypto users
With PayPal’s user base exceeding 400 million accounts, even minimal adoption could significantly increase PYUSD’s circulation and utility across Ethereum-based ecosystems.
How Tokenview Supports PYUSD Tracking
As a multi-chain blockchain explorer supporting over 120 public chains — including Bitcoin, Ethereum, TRON, Layer 2 networks, Cosmos ecosystem chains, and privacy-focused protocols — Tokenview provides deep, real-time insights into PYUSD’s on-chain behavior.
Users can access the dedicated PYUSD tracker at: https://stablecoin.tokenview.io/cn/pyusd
Key Features of the PYUSD Tracker
🔹 Real-Time On-Chain Metrics
At the top of the page, users see essential metrics:
- Market Cap: $26,757,377.24
- Circulating Supply: 26,905,005 PYUSD
- Issuance Chain: Ethereum (ERC-20)
- Issuer: paxos.com
These figures are updated in real time, reflecting live minting, burning, and transfer activities.
🔹 Minting & Redemption History
Under the “Minting List” tab, users can review all issuance events:
- First mint: November 8, 2022 — 1,100,336.22 PYUSD
- February 1, 2023: +26,400,719.69 PYUSD
- August 3, 2023: +24,904,995.66 PYUSD
Similarly, redemption (burn) events are logged chronologically, allowing analysts and auditors to verify supply changes and ensure transparency.
🔹 Holder Distribution (Whale Watch)
The PYUSD Rich List reveals wallet concentration:
- Address
0x264b...7b5: 24,999,823.09 PYUSD (92.92% of total supply) - Paxos Treasury: 1,904,996.15 PYUSD (7.08%)
This high concentration is typical during early-stage issuance but will likely decentralize as more users adopt PYUSD through PayPal’s platform.
Addressing Risks: Fake PYUSD Tokens
With PYUSD’s rising popularity, malicious actors have created counterfeit versions on Ethereum, BNB Chain, Base, and other EVM-compatible networks. These fake tokens mimic PYUSD’s name and symbol but are not backed by reserves or affiliated with PayPal.
To avoid falling victim to scams:
- Always verify the official contract address:
0x...c5f(check via Tokenview or official PayPal sources) - Use trusted platforms like Tokenview to inspect token details before transacting
- Never send funds to unknown addresses claiming to offer “free” or “discounted” PYUSD
Tokenview’s transparent data layer helps users distinguish legitimate tokens from fraudulent clones by providing verified contract information and issuer details.
👉 Stay safe online — verify every transaction with reliable blockchain tools
Core Keywords for SEO Optimization
To align with search intent and improve visibility, the following keywords have been naturally integrated throughout this article:
- PYUSD
- PayPal stablecoin
- Tokenview
- blockchain explorer
- ERC-20 token
- stablecoin tracking
- on-chain data
- Paxos Trust Company
These terms reflect high-volume queries related to digital asset research, stablecoin analysis, and blockchain transparency.
Frequently Asked Questions (FAQ)
Q: What is PYUSD?
A: PYUSD (PayPal USD) is a U.S. dollar-backed stablecoin issued by Paxos Trust Company and supported by PayPal. It operates as an ERC-20 token on Ethereum and maintains a 1:1 peg to the U.S. dollar using cash reserves and short-term Treasuries.
Q: Where can I track PYUSD transactions?
A: You can monitor all PYUSD activity using Tokenview’s stablecoin tracker at stablecoin.tokenview.io/cn/pyusd. It provides real-time data on supply, minting events, holder distribution, and transaction history.
Q: Is PYUSD safe to use?
A: Yes, PYUSD is regulated and issued by Paxos under New York State Department of Financial Services oversight. Its reserves are regularly audited, ensuring full backing for each token in circulation.
Q: Can I buy PYUSD outside of PayPal?
A: Currently, PYUSD can only be purchased directly through the PayPal app or website. It is not available on most third-party exchanges, which helps prevent counterfeiting and ensures compliance.
Q: Why does one wallet hold over 90% of PYUSD?
A: The dominant holder is likely a reserve or operational wallet used by Paxos or PayPal during initial issuance. As adoption grows and more users transact with PYUSD, distribution will become more decentralized.
Q: How does Tokenview ensure data accuracy?
A: Tokenview runs its own node clusters across 120+ blockchains. All data — including transactions, smart contracts, DeFi stats, and NFT records — is collected directly from the chain and undergoes multi-layer validation for precision.
The Future of Stablecoins and Blockchain Transparency
As institutional-grade stablecoins like PYUSD enter the mainstream, tools like Tokenview become increasingly vital for ensuring trust and accountability. By offering free, transparent access to on-chain data, Tokenview empowers individuals and organizations to make informed decisions in real time.
Whether you're a developer integrating PYUSD into a dApp, an investor analyzing supply trends, or a casual user checking transaction status, having reliable blockchain explorers is essential in today’s digital economy.
👉 Explore real-time blockchain insights with advanced tools
Conclusion
The integration of PYUSD on Tokenview represents a significant step forward in bridging traditional finance with decentralized infrastructure. With accurate tracking capabilities, enhanced security features, and growing institutional participation, the future of digital dollars looks both promising and transparent.
As more users adopt stablecoins for everyday transactions, platforms that provide clarity, reliability, and ease of access — like Tokenview — will continue to play a foundational role in shaping the next era of finance.