Coinbase will host the stablecoin Pyusd Paypal
Date: 2023-09-01 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
On August 30, Coinbase announced that it will soon add support for the PayPal PYUSD stablecoin to the Ethereum network as a token called ERC-20.
If the liquidity conditions are met, trading must begin at 9 am on August 31 or later. Coinbase announced this. The company page says that although the asset will be available on the main Coinbase exchange, the web pages say otherwise: at the time of writing, the asset is only available for trading on a decentralized exchange (DEX).
And although Coinbase claims that the asset will only be available in supported regions, it does not specify which regions support this data.
Coinbase says it will start trading PYUSD pairs as they increase liquidity. It says, in fact, that trading on the Coinbase and Advanced Trade exchanges will acquire a stable price for the pair of 0 bp. Beginner / 0.1 bp. Trader.
Coinbase said it will list PYUSD with an experimental tag and assets that are new to its platform, as well as liabilities with low trading volume. The last condition, most likely, can be applied to PYUSD. Since according to CoinGecko, the stablecoin has a rather small trading volume of $55,658 in 24 hours.
But despite this, Etherscan claims that the market capitalization of the asset is $43.3 million, while CoinGecko does not report the market value of PYUSD.
In early August, PYUSD was launched.
On August 7, PayPal announced the PYUSD stablecoin and made it available for trading on its own platform. Other exchanges have also announced support for the stablecoin. On August 18, Kraken announced its support. At the same time, exchanges supporting or planning to support the asset include ByBit.io and Huobi; Gate 3: Crypto 6s also supports this method of providing income (Uneiswap).
In its announcement, hardware wallet maker Ledger announced support for some cryptocurrencies through PayPal, but did not say if it would support PYUSD.
