Cryptocurrency exchange Huobi “coming soon” integrates recently launched stablecoin from payment giant PayPal (PYUSD).
According to the press release, the listing of the asset will occur when “market circulation improves and liquidity conditions mature.”
“Huobi will be the first exchange to support the launch of PYUSD and will continuously provide PYUSD/USDT trading pairs with zero trading fees,” the company said.
PayPal launched its “stablecoin” on August 7th. The issuer is the infrastructure firm Paxos. Currently 26.9 million PYUSD issued
The asset was created on the Ethereum blockchain according to the ERC-20 standard. The company believes that the stablecoin will facilitate transfers and international payments, and will also contribute to the further adoption of digital assets.
Rumors about plans by the payment company to launch a USD-backed digital asset emerged in May 2021.
In February 2023, it became known that PayPal froze the development of its own “stablecoin” amid news of the NYDFS investigation into Paxos.
Later, the infrastructure company announced a constructive dialogue with the US Securities and Exchange Commission, which warned of its intention to go to court.
Recall that Kaiko analysts predicted the return of the “stablecoin wars” against the backdrop of massive sales of USDT from Tether.
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2023-08-08 12:59:32
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