USDC vs 
PayPal USD
Both are fully-reserved US dollar tokens issued by regulated companies, which makes distribution the real difference. USDC is the incumbent, integrated across exchanges, DeFi and payment rails; PYUSD is issued by Paxos for PayPal, and its bet is the hundreds of millions of consumers already inside PayPal and Venmo. Same basic promise, very different routes to market.
12 months, both starting at 100 (AUD)
USDC → 94 · PYUSD → 94| Measure | USDC | PYUSD |
|---|---|---|
| Market cap | A$106.8B | A$3.9B |
| Rank | #6 | #39 |
| Price | A$1.42 | A$1.42 |
| 90-day change (AUD) | −2.0% | −1.9% |
| 12-month change (AUD) | −6.3% | −6.3% |
| From all-time high | −17.9% | −16.0% |
| Supply model | No fixed maximum | No fixed maximum |
| AU exchanges we verify it on | 3 | check on-platform |
About USDC
USD Coin (USDC) is a regulated US-dollar stablecoin issued by Circle, backed by cash and short-term US government securities with published reserve attestations. It's widely used for trading, payments and as the "safer pair of hands" among dollar tokens.
About PayPal USD
PayPal USD is PayPal's own US-dollar stablecoin, issued by the regulated Paxos Trust and integrated into PayPal and Venmo — one of the clearest signs of mainstream payments companies entering crypto rails.
FAQ
Which is bigger, USDC or PayPal USD?
By market value today: USDC (A$106.8B vs A$3.9B). Size measures money invested, not quality — but it does measure liquidity, which affects how easily you can buy and sell.
Which performed better this year?
Over the past 12 months in AUD terms: USDC −6.3%, PYUSD −6.3% — the chart above shows the whole path, which matters more than the endpoints. Past performance is no indicator of future results, in either direction.
Can I buy both in Australia?
Availability differs — check the where-to-buy section on each coin's page. Compare costs first on the fee calculator, and remember every crypto-to-crypto swap between them is a CGT event.
Should I hold USDC or PYUSD?
That's a personal decision we don't make for you — this page exists to make the structural differences clear so the choice is yours. What we'd say to anyone: understand what job each coin is designed for, size positions like the risk is real, and check the honest failure statistics before going further down the market-cap list.
Data from our market records (powered by CoinGecko), refreshed with the daily rebuild. General information only, not financial advice — we compare structure and history, we don't pick winners.