PayPal’s PYUSD Now Available on Transak for Convenient Crypto Transactions
Transak, a Web3 and crypto firm, has recently integrated Paypal’s stablecoin PYUSD onto its platform. Offering users the ability to purchase PYUSD using various local payment methods.
This strategic move aims to simplify the process of transitioning into cryptocurrencies for users. CEO Sami Start highlights that PYUSD’s listing on Transak provides a trusted entry point for traders venturing into decentralized finance (defi). Ultimately accelerating mainstream adoption of cryptocurrencies.
PYUSD, backed by Paxos Trust Company, is a fiat-backed stablecoin fully backed by U.S. dollar deposits and regulated by the New York State Department of Financial Services (NYDFS). This integration reflects a broader trend towards expanding consumer financial choices and introducing stablecoins and blockchain technology to users in a safe and accessible manner. As noted by Nick Robnett, head of asset growth at Paxos.
Clever Robot News Desk 20th June 2024
