The prominent cryptocurrency exchange Huobi has announced its intention to list PYUSD, a stablecoin introduced by PayPal on the Ethereum blockchain. This stablecoin pegged to the US dollar, is designed to facilitate digital payments.
Huobi will offer trading pairs with another stablecoin, USDT, and waive trading fees for these pairs. Huobi stated, “Huobi will be the first exchange to support the launch of PYUSD stablecoin, and will provide PYUSD/USDT trading pairs with 0 trading fee permanently.”
Dan Schulman, President, and CEO of PayPal, stated, “Our commitment to responsible innovation and compliance, and our track record delivering new experiences to our customers, provides the foundation necessary to contribute to the growth of digital payments through PayPal USD.”
The listing of PYUSD by Huobi and its collaboration with PayPal signifies a significant step towards advancing digital payments through stablecoins.