Another crypto exchange will launch a listing PayPal USD (PYUSD)
Date: 2023-08-25 Author: Karina Ziganova Categories: BUSINESS
Cryptocurrency exchange Coinbase has added plans to list a stablecoin from PayPal (PYUSD) to its roadmap.
In addition to listing PYUSD, Coinbase is looking to add support for VeChain (VET) and VeThor (VTHO) tokens.
“This is not an exhaustive list of all assets that will be submitted for listing. Any asset not mentioned above does not exclude the possibility of listing such an asset,” Coinbase concluded.
Listing of PYUSD on leading crypto exchanges
Crypto platform Huobi was the first to announce the listing of a stablecoin from a payment company. However, the exact timing of the launch of the coin on the exchange was not indicated. Instead, the platform team said that when “market circulation and liquidity conditions mature,” the exchange will launch stablecoin trading.
Following Huobi, Bybit announced plans to list PYUSD. Deposits in the stablecoin are already available, but the listing and withdrawal dates are not yet known. Deposits and withdrawals will be available through the Ethereum network.
Moreover, on August 21, Kraken Pro announced the listing of the stablecoin by the payment company PayPal. Along with the launch of the listing, users can deposit and withdraw the stablecoin, as well as trade PYUSD. The PayPal token can be traded against the US dollar and euro. The minimum order and deposit amount is 5 PYUSD.
What is known about PYUSD
PayPal USD (PYUSD), issued by Paxos Trust Company, is PayPal's stablecoin for payments. PYUSD is an ERC-20 tokenized digital dollar. Like other crypto assets, it can be transferred instantly, anywhere in the world, at any time, and it can be programmed, the company claims.
The developers claim that the stablecoin will be used mainly in the cryptocurrency and Web3 sectors. Moreover, it is available for trading other digital tokens as well as for in-game payments. Later, the use of PYUSD may spread to other areas.
