1. BITBILIHome
  2. Article

PayPal’s PYUSD stablecoin debuts on Kraken, set to Trade from August 21

• 115 views

TL;DR Breakdown

  • PayPal’s PYUSD, a US dollar stablecoin, has been officially launched on the Kraken platform.
  • Starting August 21, PYUSD will be available for trading on Kraken.
  • Users can fund their Kraken accounts with PYUSD via the Funding tab, but only deposits made on the Ethereum network are accepted.

Description

PayPal’s US dollar stablecoin, PYUSD, has officially debuted on the Kraken platform. Consequently, users can now make deposits and withdrawals using PYUSD, as outlined in the announcement. Significantly, the stablecoin will be available for trade on Kraken starting August 21. The addition of PYUSD trading on Kraken marks a major milestone in the cryptocurrency world. … Read more

PayPal’s US dollar stablecoin, PYUSD, has officially debuted on the Kraken platform. Consequently, users can now make deposits and withdrawals using PYUSD, as outlined in the announcement. Significantly, the stablecoin will be available for trade on Kraken starting August 21.

The addition of PYUSD trading on Kraken marks a major milestone in the cryptocurrency world. To fund their Kraken accounts with PYUSD, users can navigate to the Funding tab, select the asset, and click the “Deposit” button. However, it is crucial to note that only deposits made on the Ethereum network will be processed.

PayPal’s new PYUSD stablecoin aims to simplify using cryptocurrencies and blockchain-based payment systems. Designed on the Ethereum blockchain, PYUSD is a unique feature of PayPal, exclusively available to residents of the United States. Moreover, it allows easy conversion to fiat money on the PayPal network.

Initially, PYUSD will be usable with PayPal and subsequently with Venmo. The stablecoin can be effortlessly exchanged for dollars anytime, making it more convenient for everyday use. Hence, PYUSD is poised to become a practical tool for users seeking stability and ease of conversion in the volatile world of cryptocurrencies.

In related news, major cryptocurrency trading platform Bybit has also announced its intention to add PYUSD stablecoin to its spot trading platform. Although the official inclusion date has not been disclosed, this move indicates that PYUSD is gaining momentum in the cryptocurrency market.

The introduction of PYUSD on Kraken and the planned addition of Bybit are significant steps in adopting stablecoins. As the cryptocurrency market continues to evolve, stablecoins like PYUSD provide users with more options for trading and transacting. Besides, easily converting stablecoins to fiat currency on platforms like PayPal and Venmo enhances their appeal to a broader audience.

The launch of PYUSD on Kraken and the forthcoming addition on Bybit highlight the growing acceptance of stablecoins in the cryptocurrency market. As PYUSD gains traction, it is expected to offer users greater flexibility and convenience in cryptocurrency transactions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:PayPal’s PYUSD stablecoin debuts on Kraken, set to Trade from August 21

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月20日 05:59
Next 2023年8月20日 08:04

Related articles

  • Card games evolve with ‘Sealed Mode’ in Gods Unchained

    TL;DR Breakdown Gods Unchained introduces “Sealed Mode,” a novel gameplay format inspired by traditional card games, offering players random card sets for competitive play. In a groundbreaking move, Immutable’s NFT-based system grants true ownership of digital cards, bridging the gap between physical and digital card gaming. Description In a groundbreaking move, Immutable’s popular Web3 game, Gods Unchained, has unveiled a new gameplay format that promises to revolutionize the digital card game arena. This innovative format, known as “Sealed Mode,” is designed to level the playing field for players, allowing even those without extensive or costly card collections to compete on equal footing. … Read more In a groundbreaking move, Immutable’s popular Web3 game, Gods Unchained, has unveiled a new gameplay format that promises to revolutionize the digital card game arena. This innovative format, known as “Sealed Mode,” is designed to level the playing field for players, allowing even those without extensive or costly card collections to compete on equal footing. The announcement, made on September 13th via a blog post, has sent ripples through the gaming community, drawing parallels with…

    Article 2023年9月14日

  • S&P lowers the boom on U.S. banks and it is a disaster

    TL;DR Breakdown S&P Global reduced credit ratings for several U.S. regional banks. Reasons: higher funding costs and commercial real estate sector issues. U.S. Federal Reserve’s interest rate hikes raise liquidity concerns. Description Dark clouds are looming over the U.S. banking sector. S&P Global delivered a sobering verdict on Monday, reducing credit ratings for numerous regional U.S. banks. The motive? Anticipated credit strength testing due to escalating funding costs and disturbances in the commercial real estate sector. Banks Face the Heat of Rising Interest Rates There’s no denying … Read more Dark clouds are looming over the U.S. banking sector. S&P Global delivered a sobering verdict on Monday, reducing credit ratings for numerous regional U.S. banks. The motive? Anticipated credit strength testing due to escalating funding costs and disturbances in the commercial real estate sector. Banks Face the Heat of Rising Interest Rates There’s no denying the role of the U.S. Federal Reserve’s precipitous interest rate hike in this scenario. By driving up costs linked to funding deposits, it’s set the alarm bells ringing over potential liquidity issues. And the S&P…

    Article 2023年8月23日

  • Attorney Deaton claps back at post criticizing Judge Torres’ Ripple-XRP ruling

    TL;DR Breakdown Attorney Deaton, in a long Twitter thread, has clapped back at Gasparino’s post criticizing Judge Torres’ XRP-Ripple ruling, calling it “absurd,” “weird,” “bizarre,” “madness,” and “dangerous.” Thousands of XRP holders, according to Deaton, bought the coin for non-investment purposes. Murphy referred to Gasparino’s piece as “ill-informed and nonsensical.” Description In a long Twitter thread, Attorney John Deaton has given his insight on a recent post by Charles Gasparino in New York Post, which questioned Judge Anita Torres’ verdict on XRP and Ripple and stirred debate among XRP supporters. Deaton has held his stance, saying that Judge Torres’s SEC v. Ripple case ruling is very … Read more In a long Twitter thread, Attorney John Deaton has given his insight on a recent post by Charles Gasparino in New York Post, which questioned Judge Anita Torres’ verdict on XRP and Ripple and stirred debate among XRP supporters. Deaton has held his stance, saying that Judge Torres’s SEC v. Ripple case ruling is very sound. Deaton defends Judge Torres’ XRP ruling While Judge Torres received education from Havard, Gasparino described…

    Article 2023年7月25日

  • French central bank explores wholesale CBDC models to enhance cross-border payments: Details

    TL;DR Breakdown The Banque de France proposed three models for a wholesale Central Bank Digital Currency (CBDC) to improve securities settlement and cross-border payments. Experiments showed a wholesale CBDC would enhance cross-border payments, settlement finality, and financial asset security. The bank emphasized the need for interoperability, standardization, and energy-efficient solutions in CBDC and DLT design. Description In a significant move towards digital currency innovation, the Banque de France has published its second paper on wholesale Central Bank Digital Currency (CBDC), following a series of experiments. The French central bank has identified two primary use cases for an interbank CBDC: securities settlement on Distributed Ledger Technology (DLT) systems and cross-border payments. Three … Read more In a significant move towards digital currency innovation, the Banque de France has published its second paper on wholesale Central Bank Digital Currency (CBDC), following a series of experiments. The French central bank has identified two primary use cases for an interbank CBDC: securities settlement on Distributed Ledger Technology (DLT) systems and cross-border payments. Three models for wholesale CBDC Based on its extensive experimentation, the Banque…

    Article 2023年7月22日

  • AI vs. human minds: Study uncovers alarming trust in AI-generated lies

    TL;DR Breakdown According to research, an AI-written piece of disinformation could have more of an impact on the general public. Respondents in the survey could not differentiate between tweets sent by GPT-3 and those generated by humans. In addition, the majority of respondents thought the AI-generated tweets were more credible. Description A study found that when AI language models write tweets, people regard them to be more credible. At least, that’s how it looked in a recent research contrasting language produced by OpenAI’s GPT-3 model with content written by people. Scientists polled people in the newest investigation to see if they could distinguish if a tweet … Read more A study found that when AI language models write tweets, people regard them to be more credible. At least, that’s how it looked in a recent research contrasting language produced by OpenAI’s GPT-3 model with content written by people. Scientists polled people in the newest investigation to see if they could distinguish if a tweet were posted by a human or GPT-3. How so? Nobody could do it. Participants were also…

    Article 2023年7月2日
TOP