Crypto.com, a leading cryptocurrency platform, has announced a collaboration with PayPal and Paxos to establish Crypto.com as the preferred exchange for PayPal USD (PYUSD). This partnership will enable Crypto.com to list PYUSD on its platform for both retail and institutional users, making it the platform with the deepest liquidity for PYUSD trading pairs globally.
Joe Anzures, SVP and GM, Americas and Global Head of Payment Partnerships at Crypto.com, expressed his excitement about teaming up with PayPal and Paxos to advance the crypto industry. He highlighted PayPal’s pioneering role in digital commerce and Paxos’ market-leading stablecoin issuance. Anzures believes that connecting Crypto.com’s 80 million users with the latest crypto innovations and supporting PayPal’s global network of consumers and merchants will be instrumental in achieving their goal of bringing crypto to every wallet.
This collaboration builds upon the initial integrations between PayPal and Crypto.com, such as the ability to use PayPal to top up the Crypto.com Visa Card. Moving forward, the two companies will continue exploring opportunities to bring more connected top-up and commerce capabilities to the market.
PYUSD is a stablecoin backed by U.S. dollar deposits, short-term U.S. Treasuries, and similar cash equivalents. It can be redeemed one-to-one for U.S. dollars and is issued by Paxos Trust Company. Crypto.com retail users can already make deposits of PYUSD via the Crypto.com App, and trading features will soon be available.
Founded in 2016, Crypto.com boasts over 80 million customers worldwide and is known for its regulatory compliance, security, and privacy. The company’s vision is to make cryptocurrency accessible to everyone, striving to create a fairer and more equitable digital ecosystem through innovation.
In a separate partnership last month, Crypto.com teamed up with Xsolla, a global video game commerce company, to integrate Crypto.com’s checkout solution into Xsolla’s Pay Station platform. This integration allows game developers and players to accept cryptocurrency payments seamlessly, enhancing the gaming experience for all parties involved.
The collaboration between Crypto.com, PayPal, and Paxos marks a significant step forward for the cryptocurrency industry. By joining forces, these companies aim to drive the adoption of cryptocurrencies and create a more inclusive and user-friendly digital economy.
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