Key Points:

• OKX lists PayPal USD (PYUSD ($1.00)) for spot trading, starting with deposits on Oct 3, 2024
• PYUSD is a stablecoin backed 1:1 by U.S. dollars, compatible with Ethereum and Solana.

OKX lists PayPal USD (PYUSD) for spot trading, with deposits starting on Oct 3, 2024. PYUSD is a stablecoin backed 1:1 by the U.S. dollar, compatible with Ethereum and Solana.

OKX Lists PayPal USD (PYUSD) for Spot Trading

OKX has formally announced the listing of a U.S. dollar-backed stablecoin called PayPal USD. The PYUSD token will be tradable against USDT ($1.00) starting Oct 3, 2024. This new stablecoin can be utilized on both Ethereum and Solana to provide crypto users with flexibility.

Aside from Spot Trading, the deposit and withdrawal of PYUSD will be implemented in due course to ensure seamless participation in the market. In this way, the stablecoin will be stable-it shall maintain a value of 1:1 with the U.S. dollar.

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Trade PayPal USD (PYUSD) on OKX Starting October 2024

With this listing, the platform will further provide flexibility for users to diversify their assets using a U.S. dollar-backed stablecoin. PYUSD adopts the price stability mechanism and is designed to be able to move fluidly.

Deposits and withdrawals of the PYUSD will be opened on OKX on dates to be specified. The stablecoin supports major leading blockchain networks such as Ethereum and Solana.