Coinbase to List PayPal’s Stablecoin PYUSD on its Exchange
Coinbase has announced that it will be adding PayPal’s new stablecoin, PYUSD, to its listing roadmap. This means that soon, users of the exchange will be able to trade the digital asset. PYUSD is a stablecoin built on Ethereum and aims to maintain a 1:1 peg with the US dollar. It was unveiled by PayPal earlier this month and is backed by secure and highly liquid assets. PayPal customers can buy and sell PYUSD through the PayPal app and website, and they can also convert it to other cryptocurrencies like Bitcoin.
Key Points:
– Coinbase is adding PayPal’s stablecoin PYUSD to its listing roadmap.
– PYUSD is built on Ethereum and aims to maintain a 1:1 peg with the US dollar.
– PayPal customers can buy, sell, and convert PYUSD through the PayPal app and website.
– The issuance and custody of PYUSD is handled by Paxos Trust Company.
– Coinbase CEO Brian Armstrong aims to list as many crypto assets as possible, as long as they meet the company’s standards.
Hot Take
The addition of PayPal’s stablecoin PYUSD to Coinbase’s listing roadmap is significant for both platforms. It expands the options for Coinbase users and further legitimizes PYUSD as a viable stablecoin in the crypto space. The move also aligns with Coinbase’s goal of listing a wide range of crypto assets. As the crypto industry continues to grow, the availability of stablecoins like PYUSD will play a crucial role in facilitating transactions and providing stability in the market.
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