News Report Technology
September 28, 2023

Crypto.com Partners with PayPal and Paxos for PayPal USD (PYUSD) Integration

Cryptocurrency exchange Crypto.com today unveiled a partnership with PayPal and Paxos to expand its crypto offerings. The alliance aims to position Crypto.com as a preferred exchange platform for PayPal USD (PYUSD), and solidifying the company’s role.

Crypto.com has now integrated PYUSD into its platform, to cater both retail and institutional users. Moreover, the platform now asserts deepest liquidity for PYUSD trading pairs.

“PayPal has been a true pioneer in the digital commerce evolution and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier,” said Joe Anzures, SVP and GM, Americas and Global Head of Payment Partnerships, Crypto.com. “Connecting our more than 80 million users to the latest crypto innovations, as well as supporting PayPal’s global network of consumers and merchants, will be pivotal in our continued pursuit of crypto to every wallet.”

This strategic partnership builds upon the initial integrations between PayPal and Crypto.com, such as enabling the use of PayPal for topping up Crypto.com Visa Cards. Looking ahead, both PayPal and Crypto.com aim to explore additional avenues to enhance their connected top-up and commerce capabilities.

PYUSD, the focal point of this collaboration, is a stablecoin that is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and comparable cash equivalents. This stablecoin maintains a one-to-one (1:1) peg to the U.S. dollar and is issued by Paxos Trust Company.

PYUSD deposits are already accessible to Crypto.com’s retail users through the Crypto.com App, with trading functionalities set to be introduced in the near future.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

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Victor Dey
Victor Dey

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

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