Bybit Lists PayPal USD (PYUSD) Stablecoin for Spot Trading  

Leading crypto exchange, Bybit has successfully listed PayPal’s USD stablecoin for spot trading.

Bybit, a UAE-based crypto exchange, has become the latest crypto trading platform to list the popular PayPal’s USD (PYUSD) stablecoin.

announcement

Bybit Announced Plans to List PYUSD

The development comes a month after Bybit  announced plans to list the PayPal stablecoin. Last month, Bybit opened deposits for PYUSD while revealing plans to list the stablecoin for spot trading on September 20 at 10 AM (UTC).

A month later, Bybit kept to its word by listing PayPal’s stablecoin for spot trading. According to Bybit’s prior announcement, users will be allowed to withdraw their PYUSD assets starting tomorrow, September 21, 2023.

Notably, deposits and withdrawals of PYUSD will be available only on the Ethereum network.

Following the development, Bybit has become the latest crypto exchange to list PayPal’s stablecoin. Wu Blockchain reported that other prominent exchanges, including Coinbase, Gate.io, Kraken, and Cryptocom, had also rolled out spot trading support for the stablecoin.

For context, PYUSD is a dollar-pegged stablecoin  launched last month by financial giant company PayPal

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