Huobi Rushes To List PayPal’s Stablecoin
The PayPal USD (PYUSD) stablecoin, issued by Paxos, will be listed by Huobi shortly after its launch, making it the first cryptocurrency exchange. The decision was made, though, as the cryptocurrency company experienced significant outflows amid rumours about its potential insolvency.
In a statement, Huobi stated that it would list PayPal’s stablecoin PYUSD as soon as it was available, making it the first cryptocurrency exchange to do so. PYUSD/USDT trading pairs would always be available on the platform with no trading costs.
“When the market circulation and liquidity conditions are ripe, Huobi will open trading at the first time,” the announcement read. “Huobi will be the first exchange to support the launch of PYUSD stablecoin, and will provide PYUSD/USDT trading pairs with 0 trading fee permanently.”
(With inputs from Shikha Singh)
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