Coinbase Adds New Stablecoin PayPal USD (PYUSD) To Listing Roadmap

Key Points:

• According to the Coinbase announcement, the new stablecoin of the payment giant Paypal, PYUSD, has been listed on the exchange.
• The Ethereum network contract address (ERC-20 token) for PayPal USD (PYUSD) is 0x6c3ea9036406852006290770bedfcaba0e23a0e8.
• On August 7, PayPal became the first US fintech business to offer its cryptocurrency with a USD-pegged stablecoin.

According to the official announcement of cryptocurrency exchange Coinbase, the platform will add PayPal USD (PYUSD) to its listing roadmap.

The Ethereum network contract address (ERC-20 token) for PayPal USD (PYUSD) is 0x6c3ea9036406852006290770bedfcaba0e23a0e8.

The listing marks an expansion of listing any asset that can meet our standards for legal security, compliance, and engineering of the largest US cryptocurrency exchange.

As mentioned earlier, on August 7, the community was buzzed by the news that payment giant Paypal was launching its stablecoin PYUSD to drive the potential to transform payments in Web3 and the digital environment.

The issuer of this stablecoin is Paxos, which accepts USD deposits, treasury bonds, and several similar financial instruments. The exchange rate of PayPal USD is equivalent to the exchange rate of USD. Initially, the company will gradually offer the service to PayPal customers in the United States.

Given the established reputation of PayPal, PYUSD has excellent potential to join the list of most popular stablecoins in the future. The company also owns a developed infrastructure and is present in many countries, facilitating the expansion of cross-border payment services and speeding up deployment.

On the day PayPal announced the stablecoin, the US House of Representatives issued a press release stressing that stablecoins “could become the foundation for a new age payment system in the United States”.

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