RLUSD Rival PayPal USD Jumps 216% in Key Supply Metric

PayPal USD (PYUSD) stablecoin has registered staggering growth of 216% in less than 90 days. This signals a significant increase in utility and circulation reached by the stablecoin and highlights its acceptance by users in Web3. DeFiLlama, the DeFi analytics platform, highlighted this growth in a post on X.

PYUSD supply explodes as cross-chain expansion drives adoption

Notably, as of September 2025, PayPal had a market capitalization of $1.28 billion. In less than 90 days, due to increased usage, the token has more than tripled its market cap to $3.8 billion.

The increase is largely fueled by PayPal’s extension to blockchains like Solana and Arbitrum through Layer Zero, which enhances cross-chain liquidity.

Growth reflects the rising demand for PayPal’s USD stablecoin as more users engage it to settle payments and trade in the crypto space. Current growth coincides with the time that PayPal’s new peer-to-peer (P2P) payment feature was rolled out.

This feature, dubbed “links,” allows users to transfer money with the help of a one-time link. 

The P2P platform allows easy sharing in conversations and might have driven the adoption of PayPal USD stablecoin among users needing a stablecoin to carry out crypto transactions.

PayPal USD, currently ranked 28th on the list of crypto assets by market capitalization, has, by this growth, jumped to become the sixth largest stablecoin. It has put a good distance between it and core rival, Ripple USD stablecoin (RLUSD), which has a market cap of $1.26 billion.

PayPal pushes toward AI integration and multichain expansion

PayPal’s growth could be attributed to its strategic expansion, including listing on KuCoin exchange. 

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Just like its rival, RLUSD, PayPal’s listing was targeted at enhancing its accessibility to users on different platforms. Besides getting listed on KuCoin, it was also added to the P2P payment app Venmo.

Meanwhile, in October 2025, PayPal announced a collaboration with OpenAI to embed its wallet into ChatGPT. This has a projected launch date in 2026 and will make PayPal the first payment option integrated into the AI platform.

In another positive development for PayPal, its CEO, Alex Chriss, has said PYUSD will soon be available on the Stellar network once it scales regulatory approval. The move is a significant win in terms of blockchain adoption and stablecoin utility that aims to expand daily payments and remittances to millions of users, customers and merchants.