PayPal’s PYUSD Goes Native on Polygon

PayPal USD is now issued natively on Polygon.

Paxos, the regulated issuer behind PYUSD, is minting the token directly on Polygon Chain instead of leaving businesses to rely on a wrapped or bridged version. It is also being built into Polygon’s Open Money Stack, the network’s payment layer for merchants and cross-border flows.

The Block covered the news on July 9, framing it as PayPal deepening its ties with Polygon to widen PYUSD adoption.

Native issuance is the part that matters for anyone moving real money. Removing the bridged representation takes out an extra step and an extra point of failure between the issuer and the business using the token.

NEW: @PayPal USD (PYUSD) is now issued natively on Polygon Chain and built into the Open Money Stack. Send a stablecoin built for payments across borders, and settle it on the chain already doing billions in payments volume every day.

pic.twitter.com/5KiUITZqs4

— Polygon | POL (@0xPolygon) July 9, 2026

The reporting from The Block laid out the goal in plain terms: make it easier for businesses to settle payments globally with PYUSD while reducing the number of separate systems needed to move the token on Polygon.

Polygon Labs CEO Marc Boiron described the pitch as one connection where a business can take money in, move it across borders, and cash it out, with compliance built in. Native issuance puts a Paxos-issued token directly on Polygon, which gives payment teams a cleaner asset path than reconciling a separate bridged representation.

The Block said PayPal attributed more than $2.6 trillion in settled stablecoin payments to Polygon, and named Revolut and Stripe among the companies using the network. That existing payment activity gives the new deployment a live commercial setting instead of leaving PYUSD isolated as a chain announcement with no surrounding infrastructure.

Paxos issues PYUSD, and the report put the token’s total supply at nearly $3 billion at the time, still well behind USDT and USDC. The size gap shows both sides of the opportunity: PayPal already has a meaningful stablecoin, while Polygon and the Open Money Stack give it another route to business distribution.

Paxos Chief Revenue Officer Peter Jonas described PYUSD as a dollar-backed stablecoin issued under a national trust charter supervised by the OCC. That regulatory footing is why a consumer-payments brand like PayPal can put it in front of businesses at all.

The infrastructure this plugs into already had traffic before the announcement.

Polygon’s July 2 case study said Paxos had processed more than $1.3 billion in stablecoin volume across over 82,000 transactions on the network, for less than $700 in total gas fees.

The same study described the Paxos payment platform: merchants can create deposit addresses, accept stablecoins, decide whether to hold or convert to dollars, settle to a bank account, and process refunds through one API.

Polygon said that platform supported USDG, PYUSD, USDC, and USDP across Solana, Ethereum, and Polygon, with monitoring and reconciliation running through the same integration.

Polygon described the Open Money Stack as a broader layer combining blockchain infrastructure, payment orchestration, compliance tooling, wallet infrastructure, and stablecoin interoperability. Native PYUSD issuance slots into that stack rather than standing alone as another chain deployment.

One caveat on timing. Polygon said customers will soon be able to build with native PYUSD through the Open Money Stack, so parts of the integration are still rolling out rather than fully live for everyone today.

This is HUGE!! @PayPal ‘s PYUSD is now issued natively on Polygon by @Paxos . one of the biggest names in payments on earth, coming directly onto the chain already settling billions in stablecoins every day.

and soon teams will be able to move PYUSD through Polygon’s Open Money… pic.twitter.com/bI6YO1gh2u

— Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal) July 9, 2026

PYUSD itself is not new, and Polygon is one of several networks it runs on.

Paxos’s official documentation describes PYUSD as an open, fully backed U.S. dollar-denominated stablecoin built for payments and available on multiple blockchains. That multi-chain description matters here because Polygon is an expansion of PYUSD infrastructure rather than an exclusive home for the token.

The company lists cross-border peer-to-peer payments, business-to-business transfers, global payouts, microtransactions, and web3 payments among the supported use cases. Paxos also gives developers paths to mint, redeem, and convert PYUSD through its platform, covering the movement into and out of the token that a payment product needs.

On transparency, Paxos says it publishes monthly reports showing PYUSD’s reserve composition along with attestation reports from an independent accounting firm. Those recurring disclosures give businesses a way to review the assets reported behind the token instead of relying on a one-time launch claim.

Reserve reporting and OCC supervision give payment companies a defined compliance framework, but they do not erase blockchain, smart-contract, operational, or counterparty risk. The Polygon rollout should therefore be read as another payment rail for a regulated stablecoin, not as a guarantee attached to every transaction or integration.

The enterprise stablecoin race keeps coming down to distribution and settlement plumbing. A regulated dollar token, issued natively on a chain already clearing serious payment volume and wired into a single-integration payment stack, is exactly the kind of setup businesses want before they trust rails with real money.

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