PYUSD is PayPal's dollar stablecoin, issued by Paxos and wired directly into PayPal and Venmo — useful if the exit leg of a swap needs to land inside that consumer rail.
PYUSD is issued by PayPal (via Paxos). Every USDC → PYUSD swap on 4SIGHT is quoted on every connected venue at once; you always see the worst case you'll receive, and often get more.