Crypto.com Partners with PayPal to Become Preferred Exchange for PYUSD
Crypto.com has announced a partnership with PayPal, making it the preferred exchange for PayPal USD (PYUSD). This collaboration expands on their existing integrations, including a top-up service between PayPal and the Crypto.com Visa Card.
Crypto.com’s Listing of PYUSD
Crypto.com added PYUSD to its platform just two weeks after PayPal launched the stablecoin. As a result, the crypto trading platform now holds the largest liquidity for PYUSD trading pairs globally.
Future Trading Features and Capabilities
The partnership with PayPal will enable Crypto.com to explore additional top-up and commercial capabilities to offer users in the future. The exchange plans to announce new trading features soon.
“PayPal has been a true pioneer in the digital commerce evolution and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier.
Connecting our more than 80 million users to the latest crypto innovations, as well as supporting PayPal’s global network of consumers and merchants, will be pivotal in our continued pursuit of crypto to every wallet,” said Joe Anzures, senior vice president and general manager of Americas and Global Head of Payment Partnerships at Crypto.com.
PYUSD’s Expansion and Green-Listing
PYUSD has quickly gained traction since its launch, being listed on major exchanges like Coinbase, Huobi, Kraken, Bybit, BitMart, and Bitstamp. It has also been adopted by platforms such as BitPay and MetaMask for payments.
In addition, Venmo, PayPal’s mobile payments app, now allows select users to buy and send PYUSD for free, with plans to expand the service to all Venmo users. Furthermore, PYUSD has been green-listed by the New York State Department of Financial Services (NYDFS).
Hot Take: Crypto.com and PayPal Join Forces to Boost Crypto Adoption
The partnership between Crypto.com and PayPal is a significant step towards mainstream adoption of cryptocurrencies. By becoming the preferred exchange for PYUSD, Crypto.com solidifies its position in the market and gains access to PayPal’s vast network of consumers and merchants.
This collaboration not only benefits both companies but also contributes to the advancement of the crypto industry as a whole. As more major players like PayPal embrace cryptocurrencies, it paves the way for increased acceptance and usage in everyday transactions.
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