Crypto.com Joins Forces with PayPal and Paxos for Seamless PayPal USD Integration
In Brief
Crypto.com has successfully integrated the PayPal USD (PYUSD) into its platform, addressing the needs of both retail and institutional clients.
Cryptocurrency exchange Crypto.com today unveiled a partnership with PayPal and Paxos By joining forces, the goal is to put Crypto.com at the forefront of exchanges for PayPal USD (PYUSD), thereby reinforcing the firm's importance in the crypto industry.
Crypto.com has now embraced PYUSD within its ecosystem, designed to serve both individual retail traders and institutional investors. Additionally, the platform boasts exceptional liquidity for trading pairs involving PYUSD.
"PayPal has been a true innovator in the realm of digital commerce, while Paxos stands out as a top-tier stablecoin issuer. We are thrilled to collaborate with both to push the boundaries of the cryptocurrency frontier,\" expressed Joe Anzures, Senior Vice President and General Manager of the Americas at Crypto.com. \"Linking our extensive user base of over 80 million with cutting-edge crypto developments, combined with supporting PayPal's expansive network of consumers and merchants, is vital for us as we work towards bringing crypto capabilities to every wallet worldwide.\"
This strategic alliance builds on the earlier integrations of PayPal within Crypto.com, such as the option to use PayPal for topping up Crypto.com Visa cards. Both entities are looking forward to discovering additional ways to enhance their connectivity and commerce functionalities.
At the heart of this partnership is PYUSD, a stablecoin fully underpinned by U.S. dollar deposits, short-term Treasury securities, and similar cash equivalents. This stablecoin maintains a 1:1 peg to the U.S. dollar and is issued by the Paxos Trust Company.
PYUSD deposits Currently, Crypto.com's retail users can already access PYUSD through the Crypto.com App, with trading features expected to roll out very soon.
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