Huobi exchange issued a timeline for the token’s listing, which is in line with its promise to support PayPal (PYUSD) stablecoin. According to Huobi, the newly established PayPal (PYUSD) stablecoin will be listed on its trading platform by September 7th.
PYUSD Listing Schedule Has Been Confirmed By Huobi
The release states that PYUSD deposits will open at 03:30 (UTC) today and spot trading pairs such PYUSD/USDT, BTC/PYUSD, and ETH/PYUSD will open when deposit volume meets market demand. To introduce spot trading pairs, an official notification will be made in advance.
After listing, withdrawals will be allowed by 11:00 UTC on September 12.
The U.S. payment company introduced its stablecoin a month ago to encourage digital token payments. Paxos Trust Co. issued the Ethereum-based stablecoin backed by US Dollar deposits, cash equivalents, and short-term Treasuries.
PayPal CEO Dan Schulman stated that “the vision over time is that this becomes a part of the overall payments infrastructure.”
The PYUSD stablecoin has significant liquidity and a strong market foundation, but many users dislike its apparent susceptibility to monitoring. However, it is one of the crypto milestones that could drive stablecoin acceptance.
Exchanges Back PayPal (PYUSD)
Some big crypto players supported the stablecoin soon after its inception. As the first exchange to support the USD-backed stablecoin, Huobi instantly expressed interest. Seychelles-based crypto exchange confirmed it would commence with PYUSD/USDT trading pair with permanent $0 handling costs.
PYUSD stablecoin was listed first by BitMart. It began with the PYUSD/USDT trading pair and opened deposits instantly, just as Huobi. Trades and withdrawals began on August 8 at 10:00 AM UTC.
The PYUSD stablecoin was just adopted by Kraken. The crypto exchange began trading PayPal’s stablecoin on August 21 and has been facilitating trading since then.