OKX Lists PayPal’s PYUSD Stablecoin, Enabling Spot Trading And Call Auctions
In Brief
OKX expands its stablecoin offerings with PayPal USD (PYUSD), backed by global digital payments giant PayPal.
Cryptocurrency exchange OKX announced the listing of PayPal USD (PYUSD) on its spot trading market. Deposits for PYUSD are now open, with withdrawals scheduled to begin at 10:00 am UTC on October 4th. Additionally, call auctions for PYUSD will take place later today, followed by PYUSD-USDT spot trading.
OKX’s call auctions allow users to submit buy and sell orders at preferred prices before a trading pair is officially launched. The system processes these orders based on call auction rules, determining an indicative opening price based on user submissions.
PYUSD is a stablecoin fully backed by US dollar deposits, US treasuries, and other cash equivalents. It maintains a one-to-one value with the US dollar, ensuring price stability. Users can buy, sell, hold, and transfer PYUSD via PayPal’s platform. The stablecoin is issued by Paxos and operates on both the Ethereum and Solana blockchains.
OKX Expands Trading Options With New Token Listings And USDT-Margined Perpetual Futures
It provides a variety of trading options, including spot trading, simple options, and more complex derivatives such as margin trading, futures, perpetual swaps, and options. Additionally, the platform offers a range of financial products, encompassing trading bots, block trading, cryptocurrency loans, its launchpad called Jumpstart, and OKX Earn, which features savings, stablecoins, decentralized finance (DeFi) opportunities, staking, ETH 2.0.
As of now, OKX ranks as the fourth-largest cryptocurrency exchange in the world by monthly trading volume, following Binance, Coinbase, and Bybit. Data from CoinMarketCap shows that OKX has facilitated over $2 billion in trading volume in the past 24 hours.
Recently, the exchange has introduced spot trading for EigenLayer’s EIGEN and Pendle’s PENDLE tokens. It has also rolled out USDT-margined perpetual futures for CATI and POL, along with enabling margin trading and Simple Earn features further enhancing user options.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
