Found!
MAXA Crypt Portable
http://www.maxa-tools.com/mcsed.php?lang=en
Already in paf format:
Download MAXA Crypt Portable PAF-Version (539 KB)
Portable Application Format for USB Sticks
This is another option in addition to TruCrypt.
I have not tested it yet, but it's good to see others picking up on the paf format. The paf selections have Greatly grown!
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I looked into the .paf.exe version that they posted and I noticed that they didn't follow the packaging guidelines exactly, so it wouldn't be able to be added immediately. On the plus side, it's a very small application to begin with, so it doesn't seem hard to make portable.