Coinbase has listed Paypal’s PYUSD stablecoin, following an announcement of its support for the digital asset just a day earlier. Should liquidity requirements be satisfied, the exchange plans to introduce trading pairs for the asset in stages.
Coinbase Adds PYUSD Stablecoin
Coinbase, the prominent cryptocurrency exchange headquartered in San Francisco, has incorporated Paypal’s dollar-tied token, PYUSD, into its offerings. The firm broke the news on Wednesday, mentioning that trading would commence at 9 a.m. PT on Thursday, provided “liquidity conditions were met.”
“Once sufficient supply of this asset is established trading on our PYUSD-USD trading pairs will launch in phases,” elaborated Coinbase. “Support for PYUSD may be restricted in some supported jurisdictions.” The exchange also emphasized that PYUSD operates as an ERC20 token on the Ethereum network, cautioning users against transferring the asset through alternate networks to avoid potential losses.
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