Bybit announces listing of PayPal stablecoin (PYUSD)

One of the main cryptocurrency exchanges, Bybit, announced on September 20 the listing of the PayPal stablecoin (PYUSD). Furthermore, according to the announcement, spot trading will also be available on the platform for users.

In their official statement on Platform X, the team behind the exchange informed that users of the platform can enjoy zero-fee spot trading on PYUSD/USDT until further notice.

“New listing: $PYUSD @paypal is now live on #BybitSpot! What’s more, you can now enjoy zero-fee spot trading on PYUSD/USDT until further notice! You can also trade #PYUSD with #Bybit Grid Bots,” he wrote in the announcement.

📣 New listing: $PYUSD @paypal is Now Live on #BybitSpot!

💥 What’s more, you can now enjoy zero-fee Spot trading on PYUSD/USDT until further notice!

📈 Trade now: https://t.co/9TQvTYDqE3

You can also trade #PYUSD with #Bybit Grid Bots.#TheCryptoArk pic.twitter.com/8sqU4kgAQY

— Bybit (@Bybit_Official) September 20, 2023

At the time of publication, the price of PayPal (PYUSD) was priced at $1.00, down 0.1% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$1,104,441.

Stablecoin do PayPal

Global online payments giant PayPal launched its own stablecoin, called PayPal USD (PYUSD), on August 7. This action symbolized a significant step towards expanding its services in the world of cryptocurrencies, offering a new range of options to its customers.

According to information from the company, PYUSD is the result of a partnership with Paxos Trust Co., a regulated company and custodian of digital assets. The launch of the PYUSD cryptocurrency aimed to maximize the potential of stablecoins for payments, integrating into the global financial ecosystem in a stable and secure way.

Stablecoins are digital currencies that have a value linked to an asset or group of assets, such as the dollar, to minimize volatility.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.