Will Crypto.com's Status As Preferred Platform Amplify PYUSD's Traction Through PayPal Integration?
Portfolio Pulse from Khyathi Dalal
Crypto.com has become the preferred platform for PayPal's PYUSD in a partnership with Paxos. Crypto.com has the strongest liquidity for PYUSD trading pairs globally. The exchange has listed the stablecoin for retail and institutional users since its launch in August. Almost 90% of PYUSD tokens are still held in the issuer Paxos Trust’s wallets as it faces difficulties in gaining consumers' interest.
September 28, 2023 | 2:49 pm
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PayPal's PYUSD has partnered with Crypto.com, which has become the preferred platform for the stablecoin. This could potentially increase the traction of PYUSD.
Crypto.com's status as the preferred platform for PYUSD could potentially increase the traction of the stablecoin. This is due to Crypto.com's strong liquidity for PYUSD trading pairs, which could attract more users to trade PYUSD. However, it's worth noting that almost 90% of PYUSD tokens are still held in the issuer Paxos Trust’s wallets, indicating that the stablecoin is facing difficulties in gaining consumers' interest.
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