Table of Contents
Treasury leads that want issuer-side PYUSD inventory cannot stop at a merchant settlement toggle. They need a documented mint and redeem loop against the same platform that issues the token.
The named object is Paxos Orchestrations for PayPal USD (PYUSD): OAuth2 client credentials, Profiles that hold balances, orchestration rules that auto-mint USD wires into PYUSD, ad-hoc Create Orchestration calls for profile-to-bank redemptions, and status monitoring via webhooks or List Orchestrations. That is not PayPal merchant rewards settlement, not Circle Mint USDC, and not Ripple Mint RLUSD.
Facts below come from Paxos docs for Mint orchestrations, Redeem orchestrations, Convert orchestrations, Authenticate, PYUSD overview, and PYUSD mainnet addresses as of September 26, 2026. Endpoints, scopes, and asset enums are copied from those pages. No invented fees, cutoffs, or undocumented chains.
Key Takeaways
- Hosts: api.sandbox.paxos.com and api.paxos.com; OAuth at oauth.sandbox.paxos.com / oauth.paxos.com.
- Assets on Orchestrations rules include USD, PYUSD, USDC, USDG, and USDP as documented enums.
- Mint path: Create Orchestration Rule with source fiat WIRE and destination_asset PYUSD, then wire using memo_id.
- Redeem path: Create Orchestration with source_asset PYUSD and destination fiat bank_account_id.
- Operator pitfalls: missing orchestration scopes, unapproved fiat accounts, unregistered crypto destinations, stale ref_id duplicates.
Who this is for
Use this path if you are a fintech, PSP, or corporate treasury engineer building PYUSD inventory on Paxos, you already understand wire ops and stablecoin KYC, and you can create OAuth2 API credentials in the Paxos dashboard.
Skip it if you only need PayPal merchant settlement (see PayPal PYUSD Settlement for Merchant Rewards), you are minting USDC on Circle (see Circle Mint USDC), you are minting RLUSD (see Ripple Mint RLUSD), or you want a consumer-style on-ramp overview (see USD to USDC on-ramp). For Paxos leadership context, see Charles Cascarilla: Paxos. For a different institutional mint product, see BitGo Mint.
What Paxos Orchestrations mint and redeem means
PayPal USD (PYUSD) is issued by Paxos Trust Company, LLC. Paxos publishes PYUSD as an open, fully backed U.S. dollar stablecoin with monthly reserve reports and third-party attestations. Mainnet contract addresses are documented for Ethereum, Solana, Arbitrum, Polygon, and X Layer.
Orchestrations are Paxos's single API surface for fiat and stablecoin conversions. An Orchestration Rule watches deposits and auto-runs conversions. An ad-hoc Create Orchestration call runs a one-time conversion when funds already sit in a Profile. The older Stablecoin Conversions API is read-only for history; new work uses Orchestrations.
Stablecoin Insider's take: treat Profiles as the balance ledger, rules as deposit automation, and Create Orchestration as the explicit mint or redeem button your ops tooling should call.
| Stage | Paxos endpoint (from docs) | Operator check |
|---|---|---|
| Authenticate | POST oauth.../oauth2/token (client_credentials) | Save access_token; expires_in ~3599 seconds |
| List Profiles | GET /v2/profiles | Confirm DEFAULT profile id |
| Mint rule | POST /v2/orchestration/rules (USD → PYUSD) | Save deposit_instructions_id + memo_id |
| Deposit USD | Wire (prod) or sandbox fiat deposit | Memo must match rule memo_id |
| Ad-hoc mint/convert | POST /v2/orchestration/orchestrations | Unique ref_id; profile USD → PYUSD |
| Redeem | POST /v2/orchestration/orchestrations (PYUSD → USD) | Approved bank_account_id required |
| Monitor | Webhooks or GET /v2/orchestration/orchestrations | Watch COMPLETED / FAILED / REJECTED |
Prerequisites before the loop
Create API credentials in the Paxos dashboard and request the orchestration and funding scopes Paxos lists for mint, redeem, and convert. Sandbox base URL is https://api.sandbox.paxos.com. Production is https://api.paxos.com. Token hosts are oauth.sandbox.paxos.com and oauth.paxos.com.
Minimum scopes called out in the Authenticate guide for mint/redeem/convert include orchestration:read_orchestration, orchestration:write_orchestration, orchestration:read_orchestration_rule, orchestration:write_orchestration_rule, funding:read_profile, funding:write_profile, plus transfer scopes for fiat accounts, deposit instructions, and crypto destinations.
Create Orchestration Rule documents valid source_asset and destination_asset values that include USDG, PYUSD, USDP, USDC, and USD. That enum is why PYUSD is a first-class Orchestrations asset, not a side path.
Step 1. Authenticate and list Profiles
Request a bearer token with grant_type=client_credentials, client_id, client_secret, and a space-delimited scope string. Paxos returns access_token, token_type bearer, expires_in (documented as 3599 seconds), and the granted scope list.
Then call GET /v2/profiles on the matching API host. Every account has a DEFAULT Profile. Save the profile id you will fund and convert against. Ops teams often keep separate NORMAL Profiles labeled Mint and Redeem for ledger clarity.
Step 2. Create a USD to PYUSD mint orchestration rule
Call POST /v2/orchestration/rules with a unique ref_id, nickname, profile_id, source_asset USD, destination_asset PYUSD, source.fiat.network WIRE, source.fiat.account_type SWIFT (or ABA where your region uses it), and destination.profile.profile_id pointing at the funded profile.
The response returns an ACTIVE rule with deposit_instructions_id and memo_id under source.fiat. Pull full bank details with Get Fiat Deposit Instructions using that deposit_instructions_id. Production wires must use those instructions and the memo_id so the rule can match the deposit.
Optional destination variant: instead of parking PYUSD in a Profile, set destination.crypto.address and network after you register the address with Put Crypto Destination Address. Paxos requires that registration for travel-rule compliance and address approval before external delivery.
Step 3. Fund the rule (wire or sandbox deposit)
In production, send USD by wire to the Paxos bank account from the deposit instructions, including the memo_id. The ACTIVE rule detects the deposit, converts USD to PYUSD, and delivers to the rule destination.
In sandbox, use Paxos's documented sandbox deposit flow to simulate fiat funding for a profile. Sandbox deposits do not create mainnet PYUSD. Always keep crypto_network populated only for crypto sandbox deposits; omit it for fiat.
Monitor with orchestration webhooks (orchestration.processing, orchestration.completed, orchestration.failed, orchestration.rejected) or poll List Orchestrations filtered by profile_id.
Step 4. Ad-hoc mint or convert when USD already sits in a Profile
When USD is already on-platform, skip the rule trigger and call POST /v2/orchestration/orchestrations. Set a unique ref_id for idempotency, source_amount as a decimal string, source_asset USD, destination_asset PYUSD, and source/destination profile objects. Retries must reuse the same ref_id or you risk duplicate conversions; a conflicting new ref_id can create a second orchestration.
The Convert guide shows the same Create Orchestration shape for PYUSD to USDG profile-to-profile moves. Use that when treasury needs to rebalance across Paxos-issued assets rather than redeem to fiat.
Step 5. Redeem PYUSD to USD at an approved bank
First create and approve a fiat bank account (Create Fiat Account). Confirm status APPROVED with Get Fiat Account before redeeming.
Then Create Orchestration with source_asset PYUSD, source_amount, destination_asset USD, source.profile.profile_id for the funded profile, and destination.fiat.bank_account_id plus an optional memo. Paxos validates balance and bank status, converts PYUSD to USD, and wires USD to the bank.
For inbound crypto auto-redeem, create an Orchestration Rule with source.crypto.network (for example ETHEREUM), source_asset PYUSD, destination_asset USD, and the approved bank destination. External PYUSD sent to the rule's deposit address triggers conversion and withdrawal.
Step 6. Verify balances and onchain inventory
List Profile Balances or Get Profile Balance for PYUSD and USD after each orchestration reaches COMPLETED. If you withdrew to an external address, confirm the chain using Paxos's published mainnet addresses (Ethereum 0x6c3ea9036406852006290770BEdFcAbA0e23A0e8, plus Solana, Arbitrum, Polygon, and X Layer addresses in the mainnet guide).
Stablecoin Insider's take: ledger the Profile balance as the source of truth for issuer inventory, then reconcile external wallets separately. Do not treat a pending orchestration as settled PYUSD.
Sandbox to production pitfalls
- Sandbox hosts and OAuth URLs differ from production. Flip both when you leave sandbox.
- Keep ref_id unique per intended orchestration; reuse only for true retries.
- External crypto destinations must be registered before rule or orchestration delivery.
- Redeem fails if the fiat account is not APPROVED, even when PYUSD balance looks correct.
- Orchestrations replace Stablecoin Conversions for new mints and redeems; do not rebuild on the deprecated write path.
How this differs from PayPal settlement and other mint APIs
PayPal PYUSD Settlement for Merchant Rewards is a merchant checkout path that settles in PYUSD with rewards logic. Paxos Orchestrations is the issuer/custody API that creates and destroys PYUSD against USD on Paxos Profiles. Circle Mint mints USDC. Ripple Mint mints RLUSD. BitGo Mint is a separate institutional mint product for other tickers. Pick the named object that matches the asset and the counterparty you actually integrate.
Stablecoin Insider's take
FAQ
What is Paxos Orchestrations for PYUSD?
It is Paxos's API for converting USD to PYUSD and PYUSD back to USD using Profiles, Orchestration Rules for deposit-triggered automation, and Create Orchestration for one-time conversions.
Which assets can Orchestration Rules use?
Paxos documents valid source_asset and destination_asset values that include USDG, PYUSD, USDP, USDC, and USD on the Create Orchestration Rule endpoint.
Do I need a rule to mint PYUSD?
No. Rules auto-mint when a matching USD wire arrives. If USD already sits in a Profile, call Create Orchestration with source_asset USD and destination_asset PYUSD.
How do I redeem PYUSD to my bank?
Approve a fiat bank account, then Create Orchestration with source_asset PYUSD, destination_asset USD, and destination.fiat.bank_account_id. Paxos converts and wires USD.
Which chains carry PYUSD mainnet?
Paxos documents mainnet addresses for Ethereum, Solana, Arbitrum, Polygon, and X Layer in the PYUSD on Main Networks guide.
How is this different from PayPal PYUSD Settlement?
PayPal settlement is a merchant checkout and rewards path. Paxos Orchestrations is the issuer API that mints and redeems PYUSD against USD on Paxos Profiles.
How long does the OAuth token last?
Paxos documents expires_in as 3599 seconds (just under one hour). Refresh before mint or redeem batches that can outrun that window.
Can I convert PYUSD to another Paxos stablecoin without redeeming to fiat?
Yes. The Convert guide shows Create Orchestration examples such as PYUSD to USDG profile-to-profile, using the same Orchestrations surface.
Building PYUSD treasury rails? Start with Paxos Orchestrations mint and redeem, then harden memo matching, APPROVED bank accounts, and registered crypto destinations before you flip production hosts.
This content is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice; no material herein should be interpreted as a recommendation, endorsement, or solicitation to buy or sell any financial instrument, and readers should conduct their own independent research or consult a qualified professional.
){kind=link}