The market capitalization of PayPal's stablecoin PYUSD has risen from $1.2 billion in September to the current $3.8 billion.

PANews, December 3—According to Cryptopolitan, the market cap of PayPal’s PYUSD stablecoin has surged from a low of $1.2 billion in September to approximately $3.8 billion currently. In November, PYUSD’s supply grew by about 113%, and transaction volume increased by 150% to reach 1.8 million transactions. Although PYUSD is relatively new compared to Tether’s USDT and Circle’s USDC, in Q3 2025, it became the second fastest-growing stablecoin, surpassed only by Ethena’s USDe (which grew 173% during the same period). This growth is mainly attributed to PayPal’s extensive network.