Ethereum

Cryptocurrency

PayPal USD

Dogecoin

Spot

<div class="finbold"> 
 <p class="paragraph">Bybit, one of the largest derivatives crypto exchanges in the world, announced on September 20 that PayPal’s (NASDAQ: PYPL) <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> named PYUSD will be available for <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> on their platform. Spot <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> will also be made available for Bybit’s users.</p> 
 <div></div> 
 <p class="paragraph">Notably, the PayPal USD pair against Tether USD on Bybit (PYUSD/USDT) has already made over $26,617 of exchange volume in the last 24 hours of press time, as the order book is starting to get filled by crypto traders and market makers.</p> 
 <p class="paragraph">According to renowned crypto reporter Colin Wu (@WuBlockchain), other known centralized exchanges like Coinbase, Kraken, Gate, Cryptocom, and Huobi had already listed PYUSD with multiple pairs.</p> 
 <p class="paragraph">PayPal’s <a rel="noopener noreferrer nofollow" title="stablecoin" href="https://thebittimes.com/tag/stablecoin.html">stablecoin</a> is also one of the very few cryptocurrencies allowed to be offered by service providers in the state of New York, according to a very exclusive pre-approved greenlist by the NY regulators. This list got smaller on September 19, after the removal of Dogecoin (DOGE) and XRP.</p> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="404" src="https://cdn.thebittimes.com/images/2023/09/20/26e8d898f550309372743b466ee3c330.webp" alt="New York cryptocurrency greenlist:
Bitcoin (BTC), Ethereum (ETH), Gemini Dollar (GUSD), GMO JPY (GYEN), GMO USD (ZUSD), Pax Gold (PAXG), Pax Dollar (USDP), PayPal Dollar (PYUSD)" class="wp-image-129224" srcset="https://cdn.thebittimes.com/images/2023/09/20/26e8d898f550309372743b466ee3c330.webp 1024w, https://cdn.thebittimes.com/images/2023/09/20/26e8d898f550309372743b466ee3c330.webp 300w, https://cdn.thebittimes.com/images/2023/09/20/26e8d898f550309372743b466ee3c330.webp 768w, https://cdn.thebittimes.com/images/2023/09/20/26e8d898f550309372743b466ee3c330.webp 1418w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    New York cryptocurrency greenlist. Source: <em>news.bitcoin.com</em> 
  </figcaption> 
 </figure> 
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8"> 
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto"> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/20/62f17d1b2f61c8dc39420a67079c6c9b.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Stocks 
       <h3 class="font-bold leading-6 " id="paypal-stock-crashes-to-6-year-low-as-hedge-fund-dumps-2-billion-stake"> PayPal stock crashes to 6-year low as hedge fund dumps $2 billion stake </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/20/f1847e9adb14d40a2bfdb6b398f91197.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="investors-are-massively-redeeming-hundreds-of-millions-of-tether-stablecoin-usdt"> Investors are massively redeeming hundreds of millions of Tether stablecoin (USDT) </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/20/a76e414fb52f08b0109968da957bfc50.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="bybit-releases-wealth-management-product-offering-personalized-solutions-for-investors"> Bybit releases Wealth Management product offering personalized solutions for investors </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/20/0783258ead01543bbd2322a8f4a31ddc.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="paypal-s-stablecoin-can-wipe-your-balance-in-two-transactions"> PayPal's stablecoin can wipe your balance in two transactions </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
   <div class="max-w-[300px]"> 
    <div class="py-0 first:pt-0 last:pb-0"> 
     <div class="flex gap-x-4"> 
      <div class="shrink-0  w-24"> 
       <img data-src="https://cdn.thebittimes.com/images/2023/09/20/a45175f8971c087a1fcf4e1eb93afe16.webp" alt class=" w-full rounded-md lazy"> 
      </div> 
      <div>
        Cryptocurrency 
       <h3 class="font-bold leading-6 " id="paypal-launches-its-own-crypto-stablecoin-on-ethereum"> PayPal launches its own crypto stablecoin on Ethereum </h3> 
       <div class="sm:flex gap-x-3 mt-2"> 
       </div> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment"> 
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;"> 
  </div> 
 </div> 
 <p class="paragraph">PYUSD is issued by Paxos Trust Company, a fully licensed trust company overseen by the New York State Department of Financial Services.</p> 
 <p class="paragraph">Recently, Bybit and Paradigm announced a limited-time offer for ‘Pro5’ fee rates, allowing more affordable operational costs for their users while <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> options contracts. If a trader uses Paradigm to transact options with a taker and reaches $10 million in taker volume before October 11, they will be eligible for a subsidized fee extension, per the announcement.</p> 
 <h2 class="wp-block-heading" id="h-pyusd-market-analysis">PYUSD market analysis</h2> 
 <p class="paragraph">Meanwhile, PayPal USD has quickly grown from $0 to $44 million market capitalization in one month of existence, according to <em>CoinMarketCap</em>’s index. Backed by the company’s credibility in the industry, and its remarkable user base, as a market leader.</p> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="547" src="https://cdn.thebittimes.com/images/2023/09/20/ac167c8baa05d0387953668c3de1e408.webp" alt="PayPal USD (PYUSD) 1-month market cap chart. " class="wp-image-129226" srcset="https://cdn.thebittimes.com/images/2023/09/20/ac167c8baa05d0387953668c3de1e408.webp 1024w, https://cdn.thebittimes.com/images/2023/09/20/ac167c8baa05d0387953668c3de1e408.webp 300w, https://cdn.thebittimes.com/images/2023/09/20/ac167c8baa05d0387953668c3de1e408.webp 768w, https://cdn.thebittimes.com/images/2023/09/20/ac167c8baa05d0387953668c3de1e408.webp 1536w, https://cdn.thebittimes.com/images/2023/09/20/ac167c8baa05d0387953668c3de1e408.webp 1878w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    PayPal USD (PYUSD) 1-month market cap chart. Source: <em>CoinMarketCap</em> 
  </figcaption> 
 </figure> 
 <p class="paragraph">Interestingly, Bybit already has 1% of the global exchange volume of $2.79 million in the last 24 hours, by the time of publication.<br><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
 <p class="paragraph"> </p> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bybit-to-list-paypal-stablecoin-pyusd-and-launch-spot-trading-tbt63396.html">https://thebittimes.com/bybit-to-list-paypal-stablecoin-pyusd-and-launch-spot-trading-tbt63396.html</a></p>

Bybit to list PayPal stablecoin (PYUSD) and launch spot trading

Table of Contents

TheBitTimes

Other articles published on Sep 20, 2023

How Zuckerberg’s Vision For Future Of Medicine Impacts Meta Share?

Bitcoin Price Prediction 2023 – 2025: Insights from Billionaires and Experts

Russian Ministry’s Tariff Hike Proposal Sparks Outcry from Cryptocurrency Miners

Prior to the bankruptcy plan, renewed phishing efforts are reported by Celsius creditors.

Arbitrum Odyssey Returns Next Week

Stanford University to return millions received from FTX

Join our free newsletter for daily crypto updates!