In a move that further strengthens its partnership with PayPal and Paxos, leading cryptocurrency exchange, Crypto.com, has introduced a new trading pair for XRP. The addition of the XRP/PYUSD pair enhances the trading options for users of the trading platform.
The was announced by the exchange via its official X handle on September 29. According to the report, new development also extends to Solana (SOL) and Dogecoin (DOGE).
New #XRP, #SOL and #DOGE trading pairs are now available in the https://t.co/vCNztATkNg App! 📈
Trade $XRP, $SOL and $DOGE with $PYUSD now!
Get the App 👉 https://t.co/iIoKFVnKVQ pic.twitter.com/bvu0tJ65ew
— Crypto.com (@cryptocom) September 28, 2023
Read Also: Bybit Launches XRP Trading Against Euro To Enhance User Experience
Expansion of Trading options
The XRP/PYUSD pair is now available for both retail and institutional users, allowing them to easily buy and sell XRP using PayPal USD (PYUSD). This move demonstrates Crypto.com’s commitment to providing a seamless trading experience for its customers.
In addition to XRP, Crypto.com has also introduced new PYUSD trading pairs for other popular cryptocurrencies, including DOGE, SOL, USDT, and CRO. While the DOGE/PYUSD and SOL/PYUSD pairs are aimed at retail investors, the exchange has added PYUSD/USDT and CRO/PYUSD pairs to its institutional trading platform.
What sets Crypto.com apart in this regard is that it is currently the only exchange offering the XRP/PYUSD pair to both retail and institutional customers, highlighting the platform’s dedication to facilitating diverse trading options.
The introduction of the XRP/PYUSD pair follows Crypto.com’s recent partnership with PayPal and Paxos. As part of this collaboration, Crypto.com has become the preferred exchange for the PYUSD stablecoin. With deep liquidity and extensive trading pairs for PYUSD, Crypto.com is positioned as a leader in the market.
Joe Anzures, Crypto.com’s SVP of America and global head of payment partnership expressed excitement about the partnership, stating, “PayPal has been a true pioneer in the digital commerce evolution and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier.”
It’s worth noting that this partnership is not the first between Crypto.com and PayPal. Users of the Crypto.com visa card already have the option to fund their cards using PayPal, making the platform even more accessible and convenient for its users.
Read Also: Coinbase Legal Officer Lays Out Steps for XRP Trading Resumption
PYUSD, the Ethereum-based dollar-pegged stablecoin, has been gaining widespread adoption since its launch in August 2023. The stablecoin has been listed on several reputable cryptocurrency exchanges, including Coinbase, Kraken, KuCoin, Bitstamp, and Bybit. Its recent inclusion in the New York State Department of Financial Services (NYDFS) green list assets further solidifies its credibility.
PYUSD is backed 100% by cash equivalents, US dollar deposits, and short-term US treasuries, providing stability and trust for users. Paxos, a trusted name in the industry, is responsible for issuing this dollar-pegged stablecoin.
With the expansion of trading options through the XRP/PYUSD pair and its successful partnership with PayPal and Paxos, Crypto.com is solidifying its position as a leading cryptocurrency exchange. By continuously enhancing its services and embracing stablecoin adoption, Crypto.com is paving the way for the future of crypto trading.
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