Coinbase and PayPal Join Forces to List PYUSD Stablecoin
Coinbase has added PayPal's new stablecoin, PYUSD, to its listing roadmap, indicating that users may soon be able to trade the digital asset on the exchange. PYUSD aims to maintain a 1:1 peg with the US dollar and is built on Ethereum. PayPal customers can buy and sell PYUSD through the PayPal app and website, and convert it to other cryptocurrencies. The stablecoin is issued and held in custody by Paxos Trust Company. Coinbase CEO Brian Armstrong has expressed the exchange's goal of listing as many crypto assets as possible, as long as they meet the company's standards.