Joins Forces with PayPal and Paxos for USD Integration: Key Details Revealed

Author: Tom Thompson
Last Updated:
October 1, 2023 Collaborates with PayPal and Paxos on PYUSD Integration: Key Highlights, a renowned cryptocurrency exchange, has integrated PayPal USD (PYUSD), positioning itself as a favored platform for this stablecoin.

On Thursday, unveiled its collaboration with payment leader PayPal and blockchain pioneer Paxos, aiming to accelerate “worldwide crypto adoption,” according to a statement by’s CEO, Kris Marszalek.

Earlier in August, introduced PYUSD to its roster for both individual and institutional traders. This stablecoin, an ERC-20 token, is released by the Paxos Trust Company via the Ethereum blockchain and has backing from U.S. dollar reserves, brief U.S. Treasury bonds, and comparable cash assets. reiterated its claim on Thursday of providing the “most profound liquidity” for global PYUSD trade pairings.

“With over 80 million users under our wing, linking them to groundbreaking crypto advancements and bolstering PayPal’s vast consumer and merchant network will play a key role in our ongoing mission to bring crypto to every wallet,” mentioned Joe Anzures,’s chief of global payment partnerships.

Deepening the Bond between and PayPal

This recent development is an extension of the initial integrations shared by PayPal and, which include facilitating PayPal as a method to top up’s Visa Cards.

The announcement hinted at both companies’ future endeavors, stating: “PayPal and aim to further innovate by bringing more unified top-up and commercial functionalities to the market.”

Besides, PayPal’s stablecoin has found a home on several other chosen exchanges like Bitstamp, Coinbase, and Kraken. In a new update, PayPal revealed that its P2P mobile payment solution, Venmo, started offering PYUSD to a select group of users as of September 20.

Post the August debut of PYUSD, the stablecoin faced scrutiny within the crypto community, with many highlighting an apparent lack of interest from crypto enthusiasts.

Intriguingly, a study by the blockchain research platform Nansen revealed challenges for PYUSD in establishing a solid foothold. The analysis highlighted that nearly 90% of PYUSD tokens are predominantly in the custody of its issuer, Paxos Trust. Simultaneously, its adoption by “smart money” patrons, or those with expert knowledge, remains relatively minimal.