VALR lists PayPal USD (PYUSD)
We’re excited to announce that PayPal USD (PYUSD) is now available on VALR!
You can now seamlessly deposit and withdraw PYUSD via the Ethereum network, and trade PYUSD against Tether (USDT) and the South African Rand (ZAR).
What is PayPal USD?
In August 2023, PayPal introduced PYUSD, its own stablecoin, sending ripples through the digital asset landscape. This dollar-denominated stablecoin, the first initiative of its kind by a major U.S. financial institution, is fully backed by U.S. dollar deposits, U.S. Treasuries, and other cash equivalents, ensuring a one-to-one redemption ratio in U.S. dollars.
The PayPal stablecoin is compatible with the Ethereum network, emphasising its commitment to blockchain technology standards.
Our Chief Operating Officer (COO), Gianluca Sacco, expressed enthusiasm about this launch on Finbold, stating, "At VALR, our mission is to provide a seamless gateway into the world of crypto for our users, and to offer a high-performance, high-integrity trading venue for optimal price discovery. By listing PYUSD against USDT and ZAR, we are not only enabling users to swiftly on- and off-ramp into the crypto space but also allowing them to tap into the immense potential of the PayPal ecosystem. We believe this move will further bridge the gap between traditional finance and the crypto world."
Further information
PayPal USD spot market trading pairs available on VALR: PYUSD/USDT & PYUSD/ZAR
If you have any questions, please contact our support team here and make sure to follow @VALRdotcom on Twitter (X) account for regular updates.
Risk warning
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate.
