Crypto.com has partnered with PayPal and Paxos to become the leading trading platform for the PYUSD stablecoin issued by these 2 companies. According to the press release, Crypto.com crypto-card holders can top-up their PayPal account through the latter, and new features are expected to be available soon.
Crypto.com, leading platform for PYUSD trading
Crypto.com cryptocurrency exchange has partnered with PayPal and Paxos to become the leading platform for offering PYUSD, the stablecoin issued by the latter 2. According to the press release, PYUSD is already listed on Crypto.com and the exchange currently holds the highest liquidity for the stablecoin launched last August.
Joe Anzures, Head of Payments Partnerships at Crypto.com, welcomed the news, claiming that a union of this scale would help democratize the sector:
“PayPal has been a true pioneer in the evolution of digital commerce and Paxos is a market-leading stablecoin issuer. We are extremely excited to be teaming up with them to collectively advance the crypto frontier. “
According to Crypto.com’s press release, it is now possible for PayPal users to top up their accounts using the exchange’s crypto-card. New features of the same kind are expected to be announced soon, with the various companies indicating that they were working on the possibility of “bringing more connected reloading and trading capabilities to market in the future. “
“Connecting our more than 80 million users to the latest cryptocurrency innovations, and supporting PayPal’s global network of consumers and merchants, will be essential in our ongoing quest to [put] cryptocurrency in every wallet. “
However, PayPal’s PYUSD seems to be struggling to find momentum. According to data from Arkham Intelligence, around 76% of PayPal’s stablecoin supply is reportedly still in the wallets of Paxos, its issuer.
Major holders of PYUSD
Moreover, beyond the pools of some decentralized applications (dApps) already modestly filled, we can see that very few wallets hold more than a few thousand dollars of PYUSD.
