Coinbase will add support for PayPal Stablecoin

Soon Coinbase customers will be allowed to trade their crypto assets in the PayPal Stablecoin pairs.

Coinbase is a US-based publicly traded company, that trades on the Nasdaq exchange under the index “COIN”. American crypto Investors prefer to use this platform to trade crypto assets safely. In the present time, Coinbase is struggling badly in the US jurisdiction because of a suit by the Securities and Exchange Commission (SEC). 

On 25 Aug 2023, Coinbase exchange confirmed that its team added PayPal Stablecoin (PYUSD) to the roadmap. That means Coinbase will add support for this stablecoin shortly.

Asset added to the roadmap today: PayPal USD (PYUSD) https://t.co/rRB9d3iqgA

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— Coinbase Assets (@CoinbaseAssets) August 24, 2023

Coinbase roadmap is a basic public index by the Coinbase exchange, to remain transparent with the customers ahead future plans. This roadmap service was launched in 2022. 

At the time, Coinbase CEO Brian Armstrong said that the exchange would increase the speed of its rypto assets listing process on the exchange as long as the crypto assets comply with the exchange’s listing criteria.

PayPal Stablecoin

In early of this month, giant global neo-bank PayPal launched its stablecoin on the Ethereum network.

PayPal Stablecoin is highly centralised, just like other existing stablecoins e.g. USDC, and USDT. 

Following the launch of this new stablecoin, the PayPal team confirmed that they aimed to push modernization of final payment services with better security & safety. 

Today, we’re unveiling a new stablecoin, PayPal USD (PYUSD). It’s designed for payments and is backed by highly liquid and secure assets. Starting today and rolling out in the next few weeks, you’ll be able to buy, sell, hold and transfer PYUSD. Learn more https://t.co/53RRBhmNHx pic.twitter.com/53ur2KmjU7

— PayPal (@PayPal) August 7, 2023

The majority of the crypto traders are considering PayPal Stablecoin as a better option over other existing top stablecoins, because of the better reputation of PayPal. 

Two days ago, PYUSD stablecoin saw a small downfall and was trading at $0.979. That means 2% below the pegged $1 value but now trading smoothly without any downfall.

Read also: Binance terminates Crypto Card services for Latin American & Middle East users 

Coinbase will add support for PayPal Stablecoin

 

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