PANews reported on December 3rd that, according to Cryptopolitan, PayPal's PYUSD stablecoin has seen its market capitalization surge from a low of $1.2 billion in September to approximately $3.8 billion currently. In November, PYUSD's supply increased by about 113%, and trading volume increased by 150%, reaching 1.8 million transactions. Although relatively new compared to Tether's USDT and Circle's USDC, PYUSD became the second fastest-growing stablecoin in Q3 2025, second only to Ethena's USDe (which grew by 173% during the same period). This growth is primarily attributed to PayPal's extensive network.