OKX Lists PayPal USD (PYUSD) for Spot Trading. where to buy? OKX, one of the leading offshore cryptocurrency exchanges, has officially listed PayPal USD (PYUSD) for spot trading. This listing begins today, October 3, 2024, at 9:00 AM UTC, allowing users to deposit PYUSD immediately.
Trading Schedule:
A series of call auctions will take place from 11:00 AM to 12:00 PM UTC to establish the initial pricing through bids and offers. Following this auction, the PYUSD/USDT trading pair will go live at 12:00 PM UTC. For users looking to withdraw their PYUSD, this feature will be available starting tomorrow, October 4, 2024, at 10:00 AM UTC.
About PayPal USD (PYUSD):
PayPal USD is a stablecoin fully backed by the U.S. dollar, maintaining a 1:1 value ratio with the dollar. This stablecoin can be effortlessly bought, sold, held, and transferred via PayPal’s platform, and it operates across both Ethereum and Solana blockchains. PYUSD is designed to provide a reliable means of transaction in the digital realm, appealing to users who prefer stability in their crypto dealings.
Purchasing PYUSD on MoonPay:
Users can now purchase PYUSD through MoonPay using various payment methods in all supported countries, except Canada. This integration follows a strategic partnership announced in May 2024, which enables MoonPay users to buy and sell cryptocurrencies using their PayPal accounts.
📢 #NewListing #OKX will list $PYUSD @Paypal!
🟢 $PYUSD/USDT Spot trading begins at 12:00 PM on October 3rd (UTC)
More: https://t.co/mJ10MUeekh pic.twitter.com/YNH6kIz0zD
— OKX (@okx) October 3, 2024
Focus on Stablecoins:
OKX’s decision to include PYUSD in its trading options underscores the increasing significance of stablecoins as a link between fiat currencies and digital assets. The addition of PayPal’s stablecoin is likely to attract traders seeking reduced volatility and seamless transfers across blockchain networks.
Broader Trends in Cryptocurrency Adoption:
The rise of stablecoins, particularly from established companies like PayPal, highlights a broader trend of integrating digital assets into mainstream financial systems. As PYUSD makes its debut on OKX, the market will be keenly observing its performance and reception.
The launch of PayPal USD on OKX is poised to capture significant attention from traders and investors. As stablecoins continue to gain traction as a dependable bridge between traditional finance and cryptocurrencies, PYUSD’s introduction marks a notable milestone in this evolving landscape.
