USDD

Cardano

PayPal USD

TRON

Read

<div class="cryptonews"> 
 <p class="is-style-lead">Huobi will <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> a <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> pair with PayPal’s <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> PYUSD, backed by the US dollar, with a perpetual zero <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> fee.</p> 
 <p>Huobi users will be able to trade PYUSD/USDT. The announcement&nbsp;highlights that the exact date of pair <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> will depend on market circulation and liquidity factors.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> PayPal ventures into stablecoins with launch of PYUSD 
 </div> 
 <p>One day earlier, Justin Sun invited PayPal to consider TRON as a blockchain for its stablecoin. </p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">I cordially invite PayPal to consider issuing PYUSD on #TRON, which is Fast, secure, and cost-effective with 12 billion USD daily transactions. Mutual benefits await in the digital payment landscape. Let's collaborate for a thriving ecosystem! </p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 7, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <p>Highlighting TRON’s speed, security, and cost-effectiveness attributes, Sun alluded to the impressive daily transaction volume of 12 billion USD. He emphasized the potential for mutual benefits within the digital payment realm and extended an invitation to collaborate.</p> 
 <p>Shortly after, BNN Bloomberg reported that Huobi, Justin Sun’s exchange received a $209 million injection in an action believed to prop up digital reserves.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> PayPal’s stablecoin has wallet freezing and wiping functions 
 </div> 
 <p>PayPal announced the <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> of its <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> on Aug. 7. The company believes that regulated <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a>s could transform payments in web3 and would be addressed by the release of PayPal USD.</p> 
 <p>PayPal customers can now transfer PYUSD between PayPal and compatible wallets, use the stablecoin to make purchases, or convert PayPal USD to any support cryptocurrencies.&nbsp;</p> 
 <p>PayPal’s announcement lifted the company’s shares by 2.66% on Aug. 7, despite the industry being plagued with regulatory uncertainty and several major exchange collapses over the last year.</p> 
 <h2 class="wp-block-heading" id="a-difficult-time-for-huobi">A difficult time for Huobi</h2> 
 <p>The news comes at a time when Huobi is optimizing its offerings. In June 2023, the exchange announced that it was discontinuing trading for ten specific pairs, primarily focusing on those tethered to the USDD stablecoin. Notably, this stablecoin is issued by the TRON DAO Reserve, a venture with significant backing from Justin Sun.</p> 
 <p>Starting June 29, Huobi’s decision entailed delisting other trading pairs, including Cardano (ADA), Solana (SOL), and MATIC, coupled with the USDD stablecoin. While this decision was made to create an efficient trading environment for its users, Huobi’s support of PayPal shows confidence in its usage and growth for users.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Huobi founder files lawsuit for trademark infringement 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div>

Huobi to launch PayPal’s stablecoin trading

Table of Contents

TheBitTimes

Other articles published on Aug 8, 2023

NEAR Coin Price Prediction 2023: Can NEAR Coin Fall Upto $1 Mark?

Investor Alert: VC Spectra’s Stage 2 Presale Reveals Stunning 37.5% Realized Gain From Stage 1

Community Asks: How Can Cryptopia Make a Difference?

zkSync Era-Based Lending Protocol EraLend Redeployed, to Allocate All Protocol Fees for Victim Co...

More crypto traders tracking BNB, Litecoin, Pomerdoge

PayPal stablecoin launch sparks wave of fake PYUSD tokens

Join our free newsletter for daily crypto updates!