PayPal USD (PYUSD) is supported in the Crypto.com App, joining the growing list of 250+ supported cryptocurrencies and stablecoins, including Bitcoin (BTC), Ether (ETH), Polkadot (DOT), Chainlink (LINK), VeChain (VET), USD Coin (USDC), and Cronos (CRO).
Featuring dual-network functionality, the Crypto.com App allows users to deposit and withdraw PYUSD via the Ethereum network and Solana network, optimising flexibility and transaction experience. Users can now enjoy the combined strengths of Ethereum’s ecosystem and Solana’s speed and affordability.
Crypto.com App users can also purchase PYUSD easily with USD, EUR, GBP, and 20+ fiat currencies, and spend it at over 80 million merchants globally using the Crypto.com Visa Card.
About PayPal USD
PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company. Paxos and its products – including expansion to new blockchains – are subject to regulatory oversight by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD.
Issuance and custody of PayPal USD is performed by Paxos Trust Company, LLC. Learn more in PayPal’s Cryptocurrency Terms, and in the Paxos Terms that also apply to PYUSD.
PayPal, Inc. is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Buying, selling, transferring, and holding cryptocurrency with PayPal is not available in Hawaii and where prohibited by law.
🇨🇦 Canada users:
PayPal USD (PYUSD) is now listed in the Crypto.com App, joining the growing list of 250+ supported cryptocurrencies, including Canadian dollar (CAD), bitcoin (BTC), Ether (ETH), and USD Coin (USDC). Note that PYUSD is already available in other jurisdictions.
PayPal USD (PYUSD) is a US dollar-pegged digital asset launched by the global payment services provider PayPal. It is fully backed by US dollar deposits, US treasuries, and similar cash equivalents. PYUSD is regulated by the New York State Department of Financial Services. On PayPal, you can buy and sell 1 PYUSD for 1 USD.
Crypto.com App users can now purchase PYUSD easily with CAD and spend it at over 80 million merchants globally by topping up the Crypto.com Visa Card.
For more information, check out the Crypto.com University article, What is PYUSD? PayPal’s New Stablecoin–and Where to Get It.
For Canadian customers: Please note that Foris DAX, Inc. has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until Foris DAX, Inc. obtains registration, Foris DAX, Inc. has agreed to abide by the terms of an undertaking available here.
