Coinbase has announced that it will be adding PayPal’s new stablecoin, PayPal USD (PYUSD), to its listing roadmap. The digital asset is designed to maintain a 1:1 peg with the US dollar and is built on Ethereum. PayPal customers can buy and sell PYUSD through the PayPal app and website and convert it to other crypto assets like Bitcoin. The blockchain-focused firm Paxos Trust Company is responsible for the issuance and custody of the stablecoin.Since its launch, PYUSD has mostly maintained its peg, but did briefly drop to a low of $0.979 at one point on Friday. Coinbase created a listing roadmap last year to increase transparency and reduce the possibility of front-running its new trading support announcements. Coinbase CEO Brian Armstrong has stated that the exchange aims to list as many crypto assets as possible, as long as they meet the company’s standards.
| Information |
Details |
| Geography |
North America |
| Countries |
|
| Sentiment |
neutral |
| Relevance Score |
8 |
| People |
Brian Armstrong, Paxos Trust Company |
| Companies |
Coinbase, PayPal, Ethereum, Bitcoin, Paxos Trust Company |
| Currencies |
USD, ETH, BTC, PYUSD, None |
| Securities |
None |
