The leading crypto exchange, Coinbase announced to list Paypal’s PYUSD stablecoin on its crypto exchange platform.
Coinbase has added support for the PYUSD on Ethereum network, which means users will be able to send and receive it using their Coinbase ERC-20 wallet.
The exchange will primarily launch PYUSD-USD trading pair. It says that if liquidity conditions are met, the trading will begin at 9 AM PT on 31st August.
Paypal launched its USD-pegged stablecoin earlier this month with the aim to provide seamless and secure transactions over blockchain.
Coinbase has listed Paypal USD with Experimental Asset label that exchange describes as either new on platform or have lower trading volume across the crypto market. As a leading exchange, Coinbase could unlock a broader market for Paypal’s newly launched stablecoin.
PYUSD is currently available across 12 markets in different crypto exchanges including Kraken, Gate.io, Crypto.com and others. It has a market cap of over $43 million and $2 million in trading volume for the past 24 hours, as per the data from Coinmarketcap.
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