OCB — Quality Rating · Stablecoins
PYUSD Quality Rating
PYUSD (Paxos / PayPal) scores 68/100 on OnChain Benchmark's Stablecoin Quality Rating — rated Developing (methodology v1.5-stablecoin, as of Oct 10, 2026).
Latest onchain read Oct 10, 2026
Updated daily
Quality score
68
of 100 · Developing
Dimensions measured
4
of 4
Outstanding supply
$2.88B
as of Oct 10, 2026
Chains
3
with measured supply
Why PYUSD scores 68
The biggest gap in PYUSD's score is how concentrated its ownership is.
The four dimensions carry equal weight; their scores add up to the composite.
Composite
68 / 100
| Dimension | Score |
|---|---|
Holder Concentration Ownership is concentrated: the top 10 holders across Ethereum, Solana and Arbitrum own 83.7% of the free float on those chains. Upgrade factorA wider holder base, with the top 10 owning 80% or less (9 of 25). | 4 / 25 |
Redemption Depth The issuer has frozen holders' coins in bulk before. Upgrade factorA published retail redemption window of up to five business days, with no fee (20 of 25). | 18 / 25 |
Reserve Quality The reserves are cash and Treasury bills, but they're confirmed by an auditor's report rather than visible onchain. Upgrade factorReserves anyone can verify onchain (25). | 23 / 25 |
Transparency The reserve reports are current and regular, but they're voluntary rather than required by a regulator. Upgrade factorReserve reporting required by a regulator (25). | 23 / 25 |
OCB Instrument
Outstanding supply
OCB Instrument
Rating history
Key facts
Issuer, rubric and methodology
- Issuer
- Paxos / PayPal
- Asset class
- Stablecoins
- Rubric
- Stablecoin Quality Rating
- Methodology
- v1.5-stablecoin
- Last scored
- Oct 10, 2026
- What it is
- Dollar stablecoin issued by Paxos for PayPal, backed by cash and T-bills. Paxos Trust Company is an OCC-chartered national trust bank.
Chains
Share of measured supply by chain
With measured supply
3
| Chain | Share of measured supply |
|---|---|
| Ethereum | 61.9% |
| Solana | 24.5% |
| Arbitrum | 13.6% |
Evidence
Verified facts behind the rating
A sample of the verified facts behind PYUSD’s score. The full diligence trail is in the terminal.
Facts shown
2
| Dimension | Finding | Verified |
|---|---|---|
| Disclosure Quality | Contract address verified on Ethereum: 0x6c3ea9036406852006290770BEdFcAbA0e23A0e8 (primary deployment) Address confirmed active onchain. | Jun 13, 2026 |
| Disclosure Quality | Contract address verified on Solana: 2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo (Solana deployment) Address confirmed active onchain. | Jun 13, 2026 |
Cite this rating
Reference PYUSD’s rating
Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.
OnChain Benchmark (2026). PYUSD Quality Rating: 68/100 (Developing), as of Oct 10, 2026. Methodology v1.5-stablecoin. https://onchainbenchmark.com/instruments/pyusd
OnChain Benchmark (2026) 'PYUSD Quality Rating', OnChain Benchmark, Developing, 68/100, methodology v1.5-stablecoin. Available at: https://onchainbenchmark.com/instruments/pyusd (Accessed: Oct 10, 2026).
@misc{ocb_pyusd_2026,
author = {{OnChain Benchmark}},
title = {{PYUSD Quality Rating}},
year = {2026},
note = {68/100, Developing, methodology v1.5-stablecoin},
url = {https://onchainbenchmark.com/instruments/pyusd}
}The interactive terminal shows every verified fact behind PYUSD's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.