September 28, 2023 – Crypto.com today announced it has teamed up with PayPal and Paxos to establish Crypto.com as a preferred PayPal USD (PYUSD) exchange. Crypto.com has already listed PYUSD on its platform for both retail and institutional users, and is currently the crypto trading platform with the deepest liquidity for PYUSD trading pairs globally.
“PayPal has been a true pioneer in the digital commerce evolution and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier,” said Joe Anzures, SVP and GM, Americas and Global Head of Payment Partnerships, Crypto.com. “Connecting our more than 80 million users to the latest crypto innovations, as well as supporting PayPal’s global network of consumers and merchants, will be pivotal in our continued pursuit of crypto to every wallet.”
This builds on PayPal and Crypto.com’s initial integrations, including being able to use PayPal to top up the Crypto.com Visa Card. Moving forward, PayPal and Crypto.com will continue to explore bringing more connected top up and commerce capabilities to market in the future.
PYUSD is 100% backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents, is redeemable 1:1 for U.S. dollars and is issued by Paxos Trust Company. Deposits of PYUSD are already available to Crypto.com retail users via the Crypto.com App, with trading features coming soon.
Founded in 2016, Crypto.com is trusted by more than 80 million customers worldwide and is the industry leader in regulatory compliance, security and privacy. Our vision is simple: Cryptocurrency in Every Wallet™. Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation and empowering the next generation of builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem.
Learn more at https://crypto.com.