What's Hot

    Circle Launches EURC on Stellar Network

    September 28, 2023

    Gemini Allocates $24 Million for Indian Expansion

    September 28, 2023

    Kraken Secures EMI License from Ireland and Spain

    September 28, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      Circle Launches EURC on Stellar Network

      News September 28, 2023
      Recent

      Circle Launches EURC on Stellar Network

      September 28, 2023

      Gemini Allocates $24 Million for Indian Expansion

      September 28, 2023

      Kraken Secures EMI License from Ireland and Spain

      September 28, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Coinbase Set to List PayPal’s PYUSD Stablecoin on August 31
    News

    Coinbase Set to List PayPal’s PYUSD Stablecoin on August 31

    Anietie DavidBy Anietie DavidSeptember 4, 2023Updated:September 4, 2023No Comments2 Mins Read
    Coinbase Set to List PayPal's PYUSD Stablecoin on August 31
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Coinbase has officially confirmed its plans to integrate trading support for PayPal’s recently launched stablecoin, PYUSD. This move is set to take effect on August 31, contingent upon favorable liquidity conditions.

    The official announcement, shared via the company’s X (previously Twitter) account, reveals that PYUSD trading will commence “on or after 9 AM PT ” and will be gradually rolled out, primarily focusing on PYUSD-USD trading pairs. However, it’s important to note that specific restrictions may apply to users in certain jurisdictions.

    Trading will begin on or after 9AM PT on 31 August 2023, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our PYUSD-USD trading pairs will launch in phases. Support for PYUSD may be restricted in some supported jurisdictions.

    — Coinbase Assets 🛡️ (@CoinbaseAssets) August 30, 2023

    Coinbase had previously hinted at its intention to include PYUSD on its platform. This recent confirmation solidifies the exchange’s commitment to support PYUSD under an “experimental” designation.

    The “experimental” label is typically reserved for assets that are relatively new to the platform or have lower trading volumes compared to more established cryptocurrencies in Coinbase’s extensive marketplace. This designation signifies that the exchange will closely monitor PYUSD and may remove the label as the asset gains traction and meets predefined criteria.

    PYUSD Challenging Adoption in the Crypto Landscape Despite Coinbase News

    PYUSD, PayPal’s stablecoin, made its debut earlier this month in collaboration with Paxos. Despite being listed on several exchanges, including Huobi, Kraken, and Crypto.com, the adoption of PYUSD has been slower than anticipated. The total supply of PYUSD stands at approximately 43 million tokens.

    A recent report by Nansen has shed light on the apparent lack of demand for PYUSD among the crypto community, potentially attributed to PayPal’s unique demographic target for its stablecoin.

    Coinbase’s decision to integrate PYUSD trading signals growing interest in the stablecoin, and its status as an experimental asset will undoubtedly be closely watched by the crypto community as it evolves in the marketplace.

    Coinbase PayPal PYUSD
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleReport Shows that 99% of Nigerians are Crypto Aware
    Next Article MetaMask Introduces Feature to Change Ethereum to Fiat
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    Circle Launches EURC on Stellar Network

    September 28, 2023

    Gemini Allocates $24 Million for Indian Expansion

    September 28, 2023

    Kraken Secures EMI License from Ireland and Spain

    September 28, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Hong Kong Monetary Authority (HKMA) Issues Warning on Misleading Crypto Banking Claims

    September 18, 2023

    Report Shows that 99% of Nigerians are Crypto Aware

    September 4, 2023

    Hong Kong Report Reveals Positive Impact of Bond Tokenization on Market

    August 26, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.