Just-In: Kraken Allows PayPal Stablecoin (PYUSD) Trading

Kraken’s decision follows several other exchanges that have added PYUSD to their platforms since PayPal introduced the stablecoin on August 7. The digital asset is fully-backed and pegged to the U.S. dollar, contributing to its rapid adoption in the market. ByBit, Changelly, and Huobi have all included PYUSD in their offerings, and on-chain data shows a robust market activity, with $26.9 million worth of PYUSD already issued.

advertisement

Hardware Wallet Ledger Integrates with PayPal 

Additionally, hardware manufacturer Ledger has partnered with PayPal to provide a secure platform for users to access cryptocurrencies. The integration allows U.S. users to purchase digital currencies like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin using their linked PayPal accounts through the Ledger Live companion app. 

The acquired assets are automatically transferred to the user’s Ledger hardware wallet, streamlining the buying process. However, this partnership does not include access to PYUSD through Ledger, which leaves the stablecoin’s reach limited to exchanges for the time being.

Regulation for Stablecoins

Despite the growing acceptance of PYUSD, regulatory concerns around stablecoins persist. U.S. Congresswoman Maxine Waters has voiced the need for comprehensive oversight of stablecoins, like PayPal’s PYUSD, to safeguard users and ensure financial stability. Waters’ concerns are not unfounded, considering that PayPal’s enormous global customer base surpasses many central banks.

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Trading Bots List 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

The introduction of PayPal’s stablecoin PYUSD has significantly impacted the digital asset market, marked by its inclusion on major exchanges like Kraken and growing user adoption. However, the broader implications of this trend are yet to be seen as the regulatory environment adapts to these new financial technologies.

Comments

Post a Comment

Popular posts from this blog

Billionaire Ray Dalio Warns US and China on Brink of War, Beyond Ability to Talk — US-China Trade Could Collapse

Bridgewater Associates founder Ray Dalio has warned that the U.S. and China are “on the brink of war” and “are beyond the ability to talk.” The billionaire added that their relations “are getting so bad” that U.S.-China trade could collapse. He cautioned that the next 18 months “will be a very risky period.” U.S. and China on the Brink of War, Says Dalio Ray Dalio, the founder of the world’s largest asset manager, Bridgewater Associates, warned in a Linkedin post, published Wednesday, that the U.S. and China are on the brink of war. The billionaire, who has visited China for almost 40 years and has built close friendships there, shared his perspectives from his recent 13-day trips to China, as well as from meetings with Chinese citizens, experts on China residing outside the country, and policymakers in other countries, including the U.S. Regarding U.S.-China relations, Dalio stressed: The United States and China are on the brink of war and are beyond the ability to talk. He ...
Read more

Mooky Emerges as the Hottest Crypto Presale for 2023, Garnering Enthusiasm and Investors' Support⁣

Image
As the cryptocurrency market continues to soar, surpassing the $1.3 trillion mark in 2023, exciting opportunities arise for investors seeking significant returns. Among the myriad of upcoming presale cryptocurrencies, one stands out as the top contender for explosive growth: Mooky. With its ongoing presale rounds, Mooky has captivated the attention of the crypto community, raising over $578k in just 7 weeks.⁣ Mooky: The Continuously Thriving Crypto Presale Mooky has swiftly gained momentum and is currently in its 7th round of presale, attracting substantial investments and positioning itself as a force to be reckoned with. Priced at $0.0000051 per MOOK, Mooky has demonstrated its commitment to clean and green earth by allocating 3% of its total supply to eco-friendly charities. Additionally, 20% of the supply will be reserved for exchange listings, ensuring wider accessibility for investors.⁣ Unlocking a World of Opportunities with Mooky⁣ As an ERC-20 token, MOOK provides ac...
Read more

The SafeMoon Space $SMSP token presale has been extended to November 20th

At the request of many of our SafeMoon Space Family, we’ve extended our presale and 50% bonus an extra 5 days, completing round of token sales on Nov 20th. SafeMoon Space is Crypto with Confidence Audited, Decentralized, Fair & Support sustainable communities everywhere. SafeMoon Space is initiating a sale of a new variation of its original contract. This sale began through the SMSP Liquidity Transformer Event on today and ends November 20, 2021. $SMSP is an ERC-20 and BEP- 2 0 token to be launched on Uniswap and Pancakeswap on November 20th. There are still HUGE incentives to get started with SMSP now. Reserve $SMSP ERC-20 Token SafeMoon Space has a 18 day launch period for investors to reserve SMSP. Special $SMSP Token Pre-Sale (Limited availability) Buy more than 1 ETH will receive 50% SMSP bonus. So 1 ETH contributed now would be 28,013 SMSP tokens! PLUS 50% bonus 14,006.5 SMSP tokens! Each day of launch, about 7 Billion SMSP are available, which are distributed prop...
Read more