[PayPal Stablecoin PYUSD Market Cap Rises to Approximately $3.8 Billion] The market cap of PayPal's stablecoin PYUSD has increased from $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%, reaching 1.8 million transactions. Although PYUSD is relatively new compared to Tether's USDT and Circle's USDC, it became the second-fastest-growing stablecoin by Q3 2025, second only to Ethena's USDe (which grew 173% during the same period). The growth is primarily attributed to PayPal's extensive network.