In terms of PYUSD trading pairings internationally, Crypto.com presently has the deepest liquidity, according to a press release from September 28. PYUSD has launched on the exchange for institutional and retail customers, with “trading features coming soon.”
According to a press statement, this action builds on PayPal and Crypto.com’s prior collaboration, which included a choice to use PayPal to top up the Crypto.com Visa Card.
Hailing the Collaboration
In the development of digital commerce, PayPal has been a real pioneer, while Paxos is a market-leading stablecoin issuer. Then, Crypto.com takes advantage of the occasion to express how thrilled they are to collaborate with PayPal and Paxos.
Joe Anzures, Senior Vice President & General Manager of Global Business Solutions, North America at Crypto.com, expresses the shared objective of expanding the crypto frontier. He emphasizes the importance of supporting PayPal’s vast network of customers and merchants while introducing over 80 million users to the latest advancements in cryptocurrency. This collective effort aims to make cryptocurrency accessible to everyone.
Read More: How Will The U.S. Government Shutdown Impact the Crypto Industry?
Ambitious Plans Ahead
According to the press release on the website, the early integrations of PayPal and Crypto.com, which include the ability to use PayPal to top up the Crypto.com Visa Card, served as the cornerstone of this partnership. The statement that PayPal and Crypto.com would keep investigating ways to sell more linked top-up and commerce capabilities raises expectations for the future.
PYUSD, a currency created by Paxos Trust Company, is backed on a 1:1 basis by US dollars, making it a secure digital asset. This support is derived from US dollar deposits, US short-term Treasury securities, and similar cash equivalents. Retail users of Crypto.com can now easily make PYUSD deposits using the Crypto.com App, with trading tools set to become available in the near future.
Taking the Crypto Boom to the Next Level!
As the popularity of cryptocurrencies continues to soar, this partnership between PayPal and Crypto.com is a strategic move to tap into the growing market. Both companies are positioning themselves as leaders in the crypto space by allowing users to top up their Crypto.com Visa Card using PayPal seamlessly. Expanding their collaboration hints at the potential for even more innovative solutions and services for their customers.
Also Read: “The SEC Can’t Continue to Punish Crypto”: Coinbase CEO Slams Gary Gensler
