IMPORTANT POINTS:
- Coinbase Listing PYUSD: Leading cryptocurrency exchange platform Coinbase has plans to list PayPal’s new stablecoin PayPal USD (PYUSD).
- PYUSD on Ethereum: This stablecoin, built on the Ethereum network, maintains a 1:1 ratio to the US dollar and is backed by safe assets.
- Coinbase Vision: Brian Armstrong, CEO of Coinbase, expressed the company’s goal to list the largest number of crypto assets that meet their quality standards
Coinbase, one of the leading cryptocurrency exchange platforms, has expressed interest in including the recent stablecoin introduced by PayPal: PayPal USD (PYUSD) on its list.
This remarkable step in the crypto world could allow Coinbase users to trade this digital asset in the near future.
Built on the Ethereum network, PYUSD is presented as a stablecoin that seeks to maintain a 1:1 relationship with the US dollar. PayPal, when introducing this asset to the market, stressed that it is “backed by safe and highly liquid assets.”
PayPal and PYUSD
Through its app and website, PayPal has made it easy for its customers to buy, sell, and trade PYUSD for other cryptocurrencies, including Bitcoin. It is relevant to note that the responsibility for issuing and custody of the PYUSD falls on the Paxos Trust Company, an entity known for its focus on blockchain technology.
Although the PYUSD has successfully held its peg to the dollar since its launch, it saw a brief fluctuation, hitting a low of $0.979 at one point last Friday.
Coinbase, in an effort to improve transparency and minimize opportunities for anticipation of its support announcements for new assets, revealed this potential addition to its roadmap on Thursday. This roadmap was devised by the exchange last year for precisely that purpose.
Finally, Brian Armstrong, CEO of Coinbase, shared the vision of the platform by noting his intention to list the largest number of cryptographic assets that meet the standards established by the company.
Armstrong compared this philosophy to that of online commerce platforms like Amazon, where products are reviewed by the community and action is only taken in cases of consistently low ratings.
Although the PYUSD has successfully held its peg to the dollar since its launch, it saw a brief fluctuation, hitting a low of $0.979 at one point last Friday.
Coinbase, in an effort to improve transparency and minimize opportunities for anticipation of its support announcements for new assets, revealed this potential addition to its roadmap on Thursday. This roadmap was devised by the exchange last year for precisely that purpose.
Finally, Brian Armstrong, CEO of Coinbase, shared the vision of the platform by noting his intention to list the largest number of cryptographic assets that meet the standards established by the company.
Armstrong compared this philosophy to that of online commerce platforms like Amazon, where products are reviewed by the community and action is only taken in cases of consistently low ratings.
