Crypto.com Partners with PayPal and Paxos for PayPal USD (PYUSD) Integration
Crypto.com has integrated PYUSD into its platform, to cater both retail and institutional users.
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.
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