Side-by-side institutional comparison — canonical compliance grade, methodology verdict, and IC-memo-ready exports per asset.
| Metric | PYUSD PayPal USD | USDTB USDtb Proxy score | APXUSD apxUSD Proxy score | USDE Ethena USDe |
|---|---|---|---|---|
| Market Cap | $3.58B | $1.09B | $519.0M | $4.45B |
| Peg Status | STABLE | STABLE | STABLE | STABLE |
| Peg Deviation | 0.014% | 0.090% | 0.023% | 0.091% |
| Issuer | Paxos / PayPal | Ethena Labs | Unknown | Ethena Labs |
| Issuer Type | Centralized | Algorithmic Protocol | — | Algorithmic Protocol |
| Jurisdiction | US regulated | Unknown | Unknown | Foreign regulated |
| Reserve Transparency | Audited Reports | On-Chain | None/Opaque | On-Chain |
| Redemption Rights | 1:1 par · ≤2 Business Days | — | — | 1:1 par · 3-5 Business Days |
| Governance | Issuer Controlled | DAO Governance | — | DAO Governance |
| Compliance Score | A+95/100 | B70/100 | C40/100 | C45/100 |
| Yield Eligibility | Eligible | Not eligible | Not eligible | Not eligible |
| Last Updated | Today | Today | Today | Today |
| Decision Summary | ApprovedMethodology classification — not investment advice.Confidence:high | WatchMethodology classification — not investment advice.Confidence:low | WatchMethodology classification — not investment advice.Confidence:low | WatchMethodology classification — not investment advice.Confidence:high |
Verdicts are StableLens methodology classifications — Approved / Watch / Avoid / Insufficient — not investment advice. Compliance score is the canonical 6-dimension regulatory rubric (when a profile exists) or capped fallback (when not). See methodology.