Support for the stablecoin, which will be issued by the global payment giant PayPal, came from the crypto money exchange Huobi, which has been on the agenda with FUD and bankruptcy allegations recently.
At this point, Huobi said in a statement that it will be the first exchange to support the PayPal USD (PYUSD) stablecoin.
Huobi was not clear on when it will list PYUSD.
Huobi made the following statements in his statement:
“ Huobi will be the first exchange to support the launch of the PYUSD stablecoin.
And it will permanently provide 0 trading fees to PYUSD/USDT trading pairs.
When market circulation and liquidity conditions mature, Huobi will be traded for the first time.”
Hobi's announcement of this listing comes just one day after Huobi consultant and Tron (TRX) founder Justin Sun invited PayPal to consider issuing PYUSD on the Tron network.
What is PYUSD?
PayPal USD (PYUSD) is PayPal's stablecoin for transfers and payments in US dollars.
PYUSD is issued by the Paxos Trust Company and backed by 100% US dollar deposits, short-term US Treasury bonds and similar cash equivalents, with a total of 26.9 million PYUSD currently issued.
*Not investment advice.