Coinbase announced on Aug. 30 that it will soon add support for PayPal’s stablecoin, PYUSD, on the Ethereum network as an ERC-20 token. Trading is expected to begin on or after 9:00 AM PST on Aug. 31, assuming liquidity conditions are met. PYUSD was initially launched by PayPal on Aug. 7 and is now supported by several exchanges, including Kraken, ByBit, Huobi, Gate.io, Crypto.com, and Uniswap. Ledger has also announced support for certain cryptocurrencies via PayPal, but did not state whether it would support PYUSD.Coinbase said it would launch trading on PYUSD-USD trading pairs in phases as liquidity increases. It also said that trades on Coinbase Exchange and Advanced Trade will receive a stable pair pricing of 0 bps maker / 0.1 bps taker. Coinbase noted that it will list PYUSD with an experimental label, which applies to assets that are new to its platform and assets that have a low trading volume. The latter condition seems to apply to PYUSD, as the stablecoin has a very small 24-hour trading volume of $55,658, according to data from CoinGecko. Though CoinGecko does not report the market cap of PYUSD, Etherscan suggests that the asset has a market cap of $43.3 million.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Kraken, Gate.io, Huobi, ByBit, Crypto.com, Coinbase, Ledger, Uniswap
Currencies	Ethereum, US Dollar, Bitcoin, PayPal USD, Draken
Securities	None