PayPal’s stablecoin makes its debut at Coinbase

Coinbase listera PayPal USD (PYUSD) on Thursday. Visit stablecoin is already available on several exchangesincluding Kraken.

The American Coinbase announced yesterday the imminent arrival of the stablecoin PYUSD launched on Ethereum by PayPal earlier this month on its trading platform.

Trading will commence as of 9:00 a.m. Pacific Time on August 31, 2023, if liquidity conditions are met. Once sufficient supply of this asset is established, trading on our PYUSD-USD trading pairs will be launched in phases,” the exchange tweeted,

Coinbase added that support for the digital coin may be restricted in certain jurisdictions, without specifying which ones. PYUSD is also listed with its label Experimentalwhich is used by the company for new assets or assets with low liquidity.

Coinbase will add support for PayPal USD (PYUSD) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

– Coinbase Assets 🛡️ (@CoinbaseAssets) August 30, 2023

Last week, his rival Kraken announced that PYUSD was now offered on its platform. According to Nansen, demand for PayPal’s stablecoin remains low. Paxos, its issuer, retains 90% of the supply, and the tokens acquired remain on the exchanges, without really circulating.

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