Coinbase has announced that it will begin trading in PayPal’s recently launched stablecoin, PYUSD, on August 31st, provided that there is sufficient liquidity. The trading will be rolled out in phases for the PYUSD-USD pairs, but there may be restrictions on its availability in certain jurisdictions.
This announcement comes after Coinbase hinted at adding PYUSD to its platform last week. The exchange will support the stablecoin under an “experimental” label, which is reserved for assets that are relatively new to the platform or have lower trading volumes compared to established cryptocurrencies. With this label, Coinbase will closely monitor the performance of PYUSD and may remove the experimental designation when the asset meets the necessary criteria.
PayPal’s stablecoin, launched in partnership with Paxos, has already been listed on multiple exchanges including Huobi, Kraken, and Crypto.com. However, PYUSD’s adoption has been slower than anticipated, with a total supply of around 43 million tokens. A recent report highlighted a lack of demand for PYUSD among crypto users, possibly due to PayPal targeting a specific demographic for its stablecoin.
Hashtags: #Coinbase #PayPal #PYUSD #stablecoin #crypto #trading
Keywords: Coinbase, PayPal, stablecoin, PYUSD, trading, liquidity conditions, experimental, cryptocurrency, exchanges, adoption, cryptocurrency marketplace
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