Sharlife is a Registered Shariah Advisory Firm with Securities Commission Malaysia - The only regulated provider of crypto & stocks Shariah status
Sharlife is a Registered Shariah Advisory Firm with Securities Commission Malaysia - The only regulated provider of crypto & stocks Shariah status
PayPal USD (PYUSD) is a stablecoin backed by secure and highly liquid assets, designed to maintain a stable $1 USD value.
PayPal USD is a stablecoin that's fully backed by US dollar deposits, US treasuries, and similar cash equivalents. You can buy and sell 1 PYUSD for 1 USD on PayPal.
PayPal USD is issued by Paxos Trust Company, LLC (Paxos). PayPal and Paxos are committed to ensuring the public availability of reports on the PayPal USD reserve assets.
PYUSD maintains its 1:1 peg with the US dollar through a reserve of dollar deposits, US treasuries, and cash equivalents. These assets are held by Paxos Trust Company, a regulated financial institution.
Each PYUSD is backed by $1 in reserve assets
Issued by Paxos Trust Company, a regulated financial institution
Monthly attestations by independent accounting firms
Permissible from a Shariah perspective
Although PYUSD is backed by reserves that include non-compliant financial instruments, purchasing PYUSD does not grant holders the rights to receive any coupon payments or interest generated from these reserves.
PYUSD can be used by Muslims for transactions and as a store of value, provided it is used in accordance with Shariah principles and not for speculative purposes.
| Reserve Assets | U.S. Treasury Collateralized Reverse Repurchase Agreements and Cash Deposits |
|---|---|
| Yield Source | N/A |
| Launched | 2023 |
| Issuer | Paxos Trust Company |
Global payment giant & regulated trust
PayPal USD (PYUSD) is issued by Paxos Trust Company, LLC, a regulated entity. Its legitimacy is reinforced through transparent reporting, with Paxos providing monthly self-reports on reserve asset composition.
Additionally, an independent third-party accounting firm conducts monthly attestations, ensuring accountability and compliance. The backing of PayPal, a global payments leader, adds significant credibility to this stablecoin.
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