Huobi has announced that payments giant PayPal will list its stablecoin, PayPal USD (PYUSD).
Huobi, who has made a name for himself with Justin Sun recently, came to the fore with the news of the PayPal USD (PYUSD) listing. Stating that it will be the first exchange to support the launch of the PYUSD stablecoin, Huobi announced that it will not charge a commission fee for the PYUSD/USDT trading pair.
Detailed information on the listing is not yet known.
The crypto exchange said in a statement that it will be the first exchange to support the launch of the PYUSD stablecoin and will never charge commissions on PYUSD/USDT trading pairs. However, Huobi did not specify exactly when PayPal will list its stablecoin. The company said, “When market circulation and liquidity conditions mature, it will open for trading on Huobi for the first time.” said.
PayPal launched its own stable currency in collaboration with Paxos. The company said in a statement that the token will gradually be made available to users in the United States. The payments giant said it will fully support PYUSD with US dollar deposits, short-term treasuries and similar cash assets.
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