Huobi, the global cryptocurrency exchange, recently announced plans to integrate PayPal’s PYUSD stablecoin into its digital offering. Starting from September 7th, users will be able to make PYUSD deposits and spot trading pairings, such as PYUSD/USDT, BTC/PYUSD, and ETH/PYUSD, will be available. Withdrawals will be enabled from September 12th.The launch of PayPal’s PYUSD stablecoin signals a potential shift towards mainstream stablecoin adoption. The currency is Ethereum-backed and each PYUSD is backed completely by USD funds, cash equivalents, and short-term Treasuries. Huobi has expressed their desire to list PYUSD and will offer commission-free trading options with PYUSD/USDT as the flagship pair. This move could help propel the concept of stablecoins into the mainstream.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 10 |
| People | None |
| Companies | Huobi, PayPal, Paxos Trust Co., Ethereum, USD |
| Currencies | Ethereum, PayPal USD, Bitcoin, Tether |
| Securities | None |
