1. BITBILIHome
  2. Article

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

• 44 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

  • Bitcoin gains popularity in Japan as Yen’s volatility escalates

    TL;DR Breakdown Kaiko data shows the share of bitcoin trade volume on Japanese exchanges rose from 69% to 80% in Q1 2023. Historical data shows that citizens of nations plagued by inflation have embraced digital assets, and Japanese traders have joined the bandwagon. Trading activity on Japan-focused exchanges has increased faster than in Korean markets and the Coinbase exchange listed on the Nasdaq. The global 4-decade inflation rate is pushing investors to digital assets and natural resources. Description Bitcoin has found a new home in Japan. Since the Federal Reserve (Fed) began its aggressive interest rate hike campaign in March 2022, the Japanese yen has significantly depreciated. The Japanese Yen has experienced some of the most severe swings in exchange rates in history. The volatility has traders on Japan-focused digital asset exchanges turning … Read more Bitcoin has found a new home in Japan. Since the Federal Reserve (Fed) began its aggressive interest rate hike campaign in March 2022, the Japanese yen has significantly depreciated. The Japanese Yen has experienced some of the most severe swings in exchange rates in…

    Article 2023年7月21日

  • Inside Pepecoin scandal: Rogue team members accused of $16 million heist

    TL;DR Breakdown The Pepecoin community faced a crisis when 16 trillion PEPE tokens, valued at approximately $16 million, were unauthorizedly withdrawn from the project’s multisig wallet on August 24, 2023. Former team members were implicated in the theft, allegedly exploiting the multisig wallet system to transfer the tokens to various cryptocurrency exchanges before removing themselves from the project. Description The Pepecoin (PEPE) community was thrown into turmoil following the unauthorized withdrawal of 16 trillion PEPE tokens, valued at approximately $16 million, from the project’s multisig wallet. The incident occurred on August 24, 2023, and led to a precipitous 15% drop in the value of PEPE tokens. The tokens were subsequently transferred to multiple cryptocurrency … Read more The Pepecoin (PEPE) community was thrown into turmoil following the unauthorized withdrawal of 16 trillion PEPE tokens, valued at approximately $16 million, from the project’s multisig wallet. The incident occurred on August 24, 2023, and led to a precipitous 15% drop in the value of PEPE tokens. The tokens were subsequently transferred to multiple cryptocurrency exchanges, including OKX, Binance, Kucoin, and Bybit, raising…

    Article 2023年8月26日

  • Former SEC Chair Hints at Potential Approval of Spot Bitcoin ETFs 

    TL;DR Breakdown Former SEC Chair Jay Clayton suggests that spot Bitcoin ETFs may be approved if applicants can demonstrate similar efficacy to futures markets. The article discusses the changing perception of investor protection and surveillance in spot Bitcoin markets and the ongoing legal challenges faced by major crypto exchanges. Description In a significant development for the cryptocurrency market, former U.S. Securities and Exchange Commission (SEC) Chair, Jay Clayton, has expressed the possibility of approving spot Bitcoin exchange-traded funds (ETFs). Clayton, who was known for his skepticism towards cryptocurrencies during his tenure, has recently acknowledged a shift in his perception, indicating that improved market conditions may … Read more In a significant development for the cryptocurrency market, former U.S. Securities and Exchange Commission (SEC) Chair, Jay Clayton, has expressed the possibility of approving spot Bitcoin exchange-traded funds (ETFs). Clayton, who was known for his skepticism towards cryptocurrencies during his tenure, has recently acknowledged a shift in his perception, indicating that improved market conditions may warrant the approval of spot Bitcoin ETFs. This article delves into Clayton’s evolving perspective, exploring the need…

    Article 2023年7月12日

  • Why are G7 countries icing out Russia?

    TL;DR Breakdown G7 countries are planning to ban imports of Russian diamonds from January. The decision aims to target a major sector of the Russian economy untouched by existing sanctions. Russia is the world’s top producer of rough diamonds, with significant exports passing through Antwerp and getting polished in India. Description Dive into the shimmering world of diamonds, and one is plunged into a vast pool of geopolitics, technology, and economies. The recent shift in the diamond industry is no exception, with the G7 countries marking their territory and setting a firm stance against Russia. Why? Because when it comes to the G7’s economic play, every … Read more Dive into the shimmering world of diamonds, and one is plunged into a vast pool of geopolitics, technology, and economies. The recent shift in the diamond industry is no exception, with the G7 countries marking their territory and setting a firm stance against Russia. Why? Because when it comes to the G7’s economic play, every gem has a story, and Russia’s stones have become increasingly controversial. Diamonds in the Rough: Russia’s…

    Article 2023年9月18日

  • Bitwise unexpectedly withdraws Bitcoin and Ethereum market cap strategy ETF application

    TL;DR Breakdown Bitwise has withdrawn its application for a Bitcoin and Ethereum Market Cap Strategy ETF, a move that contradicts recent bullish statements from the company’s Chief Investment Officer. This is not the first time Bitwise has withdrawn an ETF application, raising questions about the company’s long-term strategy in the rapidly evolving cryptocurrency investment landscape. Description Bitwise Asset Management has decided to withdraw its application for a Bitcoin and Ethereum Market Cap Strategy ETF in a move that has puzzled many in the cryptocurrency community. Initially filed with the U.S. Securities and Exchange Commission (SEC) on August 3rd, the application aimed to create an ETF that would allocate funds into either … Read more Bitwise Asset Management has decided to withdraw its application for a Bitcoin and Ethereum Market Cap Strategy ETF in a move that has puzzled many in the cryptocurrency community. Initially filed with the U.S. Securities and Exchange Commission (SEC) on August 3rd, the application aimed to create an ETF that would allocate funds into either a Bitcoin Futures Contract or an Ethereum Futures Contract based on…

    Article 2023年9月1日
TOP