Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
Huobi, a leading cryptocurrency exchange, has announced that it will support the launch of PayPal’s stablecoin, PYUSD. As part of this launch, Huobi will provide PYUSD and USDT trading pairs with zero trading fees permanently. Currently, there are 26.9 million PYUSD in circulation, with each coin backed by U.S. dollar deposits, short-term U.S. Treasury bonds, and similar cash equivalents. Huobi believes that the launch of PYUSD will be a significant step forward in promoting the adoption of stablecoins for payments and transfers. Huobi will open trading when market conditions and users are ready, as advised in their subsequent announcements.
