Key Points:
OKX has formally announced the listing of a U.S. dollar-backed stablecoin called PayPal USD. The PYUSD token will be tradable against USDT starting Oct 3, 2024. This new stablecoin can be utilized on both Ethereum and Solana to provide crypto users with flexibility.
Aside from Spot Trading, the deposit and withdrawal of PYUSD will be implemented in due course to ensure seamless participation in the market. In this way, the stablecoin will be stable-it shall maintain a value of 1:1 with the U.S. dollar.
Read more: OKX MPI License Approved to Help Exchange Boost Services in Singapore
With this listing, the platform will further provide flexibility for users to diversify their assets using a U.S. dollar-backed stablecoin. PYUSD adopts the price stability mechanism and is designed to be able to move fluidly.
Deposits and withdrawals of the PYUSD will be opened on OKX on dates to be specified. The stablecoin supports major leading blockchain networks such as Ethereum and Solana.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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