Bybit, a Dubai-based cryptocurrency exchange, announced the listing of the PayPal USD stablecoin, PYUSD.
PYUSD is a stable coin issued by Paxos, a regulated financial company based in New York. The listing of PYUSD marks a significant collaboration between Bybit and PayPal, two leading players in the traditional and crypto payments sectors. By integrating PYUSD into its platform, Bybit aims to provide its users with a diverse and reliable trading experience.
Ben Zhou, co-founder and CEO of Bybit, said the PYUSD listing reaffirms Bybit’s commitment to offering its users more choice and flexibility in their crypto transactions.
PayPal is a leading online payments processor with significant advancements in cryptocurrencies. Recognizing the growing popularity and potential of digital assets, PayPal has taken steps to integrate cryptocurrencies into its platform, allowing users to buy, sell and hold cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin. (LTC).
One of the key features introduced by PayPal is the ability for users to purchase Bitcoin directly with their accounts. This move was a vital step towards the widespread adoption of major cryptocurrencies. By allowing users to purchase cryptocurrencies with their PayPal accounts, the platform has made it more accessible and convenient for people to enter the world of digital assets.
PayPal has also introduced the option for users to use their cryptocurrencies to make payments to millions of online merchants around the world. This means that users can now use their cryptocurrencies to purchase goods and services, further integrating digital assets into everyday commerce.