Crypto.com Becomes Preferred PayPal USD Exchange
Crypto exchange Crypto.com has partnered with fintech giant PayPal and stablecoin issuer Paxos to become a preferred PayPal USD (PYUSD) exchange. While the launch of PayPal’s stablecoin, PYUSD, generated excitement in August, adoption has been slow. In an effort to boost business, Crypto.com aims to leverage PayPal’s global network of consumers and merchants to bring crypto to every wallet.
Collaborative Use Cases and Visa Card Integration
Crypto.com’s collaboration with PayPal makes it the preferred crypto exchange for PYUSD. Users can also top up their Crypto.com Visa card through PayPal. Both companies are interested in exploring further collaborative use cases to promote the adoption of cryptocurrencies.
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Decrease in Unreleased Tokens
According to data, there are still 33.4 million unreleased PYUSD tokens, accounting for 75% of the total outstanding supply. However, this represents a decrease from the previous report which stated that unreleased tokens made up 80% of the supply. While adoption is slowly increasing, there is still room for growth.
Hot Take: Aiming for Mass Adoption
This partnership between Crypto.com and PayPal demonstrates a shared goal of driving mass adoption of cryptocurrencies. By leveraging PayPal’s extensive network and integrating PYUSD into the Crypto.com platform, both companies hope to make crypto more accessible and convenient for users worldwide.
