PYUSD vs U — reserve disclosures side by side
This page places PYUSD and U reserve disclosures side by side, each read from its issuer's own published attestation report and independently measured on-chain supply. Figures render verbatim at their stated scope and dates; scopes and dates can differ between issuers, so figures sit side by side without a ranking, verdict, or safety comparison.
This comparison places disclosed figures side by side, each at its issuer's stated scope and dates. Scopes differ — a consolidated group report and a per-token report are not the same measure — so nothing on this page ranks reserves, judges sufficiency, or states which token is safer.
PYUSD's latest report on this board is Paxos Trust (PayPal USD)'s 2026-08 report, stating reserves as of 2026-08-31; U's is United Stables Limited's 2026-08 report, stating reserves as of 2026-08-31. Both reports state reserves as of the same day. The expected reporting cadence is monthly for PYUSD, inferred from the reports observed, and monthly for U, as stated by the issuer. On those schedules the board expects PYUSD's next report by 2026-10-24 and U's by 2026-10-11.
01Coverage
Latest attested coverage
PYUSD — Paxos Trust (PayPal USD)
- coverage
- 1.002420× ISSUER_ATTESTED
- as of
- 2026-08-31 · report 2026-08
- source
d198b809aaf8…
Get this as JSON: /v1/board/tokens/PYUSD Current figures are free with no key. Client examples
U — United Stables Limited
- coverage
- 1.007430× ISSUER_ATTESTED
- as of
- 2026-08-31 · report 2026-08
- source
3da9de584b0c…
Get this as JSON: /v1/board/tokens/U Current figures are free with no key. Client examples
02Attestation
Latest attestation
PYUSD — Paxos Trust (PayPal USD)
- report
- 2026-08 ISSUER_ATTESTED
- composition as of
- 2026-08-31
- source document
d198b809aaf8…
| kind | line (verbatim) | amount | unit |
|---|---|---|---|
TOTAL | Total redemption assets in United States Dollar (Exhibit B) | 2,893,935,877.000000 | USD |
LIABILITY | Total PYUSD redeemable tokens outstanding (Exhibit A line d) | 2,886,948,845.000000 | TOKEN |
CATEGORY | Repurchase agreements, at fair value | 2,408,763,000.000000 | USD |
CATEGORY | Obligations of U.S. Treasury, at fair value | 373,999,462.000000 | USD |
CATEGORY | Cash | 111,173,415.000000 | USD |
CATEGORY | Government money market funds, at net asset value | 0.000000 | USD |
POSITION | Ethereum | 1,840,077,337.000000 | TOKEN |
POSITION | Solana | 743,923,272.000000 | TOKEN |
POSITION | Arbitrum One | 277,212,847.000000 | TOKEN |
POSITION | Stellar | 13,392,135.000000 | TOKEN |
POSITION | Polygon | 10,343,131.000000 | TOKEN |
POSITION | X-Layer | 2,000,099.000000 | TOKEN |
POSITION | Ink | 24.000000 | TOKEN |
U — United Stables Limited
- report
- 2026-08 ISSUER_ATTESTED
- composition as of
- 2026-08-31
- source document
3da9de584b0c…
| kind | line (verbatim) | amount | unit |
|---|---|---|---|
TOTAL | Total Reserve Assets | 1,284,976,249.000000 | USD |
LIABILITY | Total $U in circulation | 1,275,499,208.000000 | TOKEN |
CATEGORY | Stablecoins | 418,354,080.000000 | USD |
CATEGORY | Cash and cash equivalents | 360,683,508.000000 | USD |
CATEGORY | Principal-protected yield product | 304,175,870.000000 | USD |
CATEGORY | Tokenised US treasuries | 201,762,791.000000 | USD |
POSITION | BNB Smart Chain | 971,298,608.000000 | TOKEN |
POSITION | Ethereum | 249,200,400.000000 | TOKEN |
POSITION | Tron | 55,000,200.000000 | TOKEN |
Cite this · How to quote and cite
Data: ReserveBeat — https://reservebeat.com/compare/pyusd-vs-u#coverage — figure as reported in Paxos Trust (PayPal USD)'s attestation dated 2026-08-31.
Source reportData: ReserveBeat — https://reservebeat.com/compare/pyusd-vs-u#coverage — figure as reported in United Stables Limited's attestation dated 2026-08-31.
Source report
Each coverage ratio divides two figures from the same issuer attestation at the same as-of date. On-chain measurements never enter a ratio — they are the independent cross-check of the liability side.
Timestamps reflect the underlying data — when a figure was captured or a report was published — never when a page was built.
03Questions
Common questions
What does this comparison show?
The reserve disclosures each issuer has published, side by side: latest attested coverage and reserve composition, each rendered verbatim at its stated scope and dates. It is a view of what each issuer disclosed, not a judgment of either.
Which of the two tokens is safer?
This page does not say — deliberately. Disclosure scopes and dates differ between issuers, a coverage ratio is never a judgment of reserve sufficiency, and ReserveBeat states no opinion on any issuer's solvency. It shows what each issuer disclosed and how completely, nothing more.
Why does one side show no coverage ratio?
Either that issuer attests only at consolidated group scope — one report covering several tokens, which renders as stated rather than inventing a per-token ratio — or no attestation series is held yet. Absence renders plainly, never as an estimate.
Can the two sides be compared directly?
Only as disclosed: figures come from each issuer's own report at its own as-of dates and scope, so the two sides may not measure the same thing. Scope and dates render beside every figure so the difference stays visible rather than hidden.