Crypto.com Expands Offerings with New Trading Pairs Including XRP, DOGE, and SOL
Discover the latest trading pairs added by Crypto.com, including XRP, DOGE, and SOL, against PayPal USD (PYUSD) stablecoin. Read more about the collaboration between Crypto.com and PayPal, and the implications for the cryptocurrency market.
Posted 2 months ago in Exchanges
Crypto.com has diversified its offerings by integrating a slew of new trading pairs on its app, according to a Thursday announcement. Ripple-affiliated XRP, Dogecoin (DOGE) and Solana (SOL) can now be traded against PayPal USD (PYUSD), a new stablecoin that was recently launched by the financial giant.
Crypto.com has collaborated with PayPal and Paxos to become a preferred exchange for PayPal's PYUSD. This partnership, which was announced earlier today, allows users to access deep liquidity for PYUSD trading pairs, building upon previous integrations. The platform aims to advance cryptocurrency accessibility by linking its extensive user base to innovative crypto solutions and supporting the broader network of PayPal consumers and merchants.
The PayPal stablecoin, which was launched last month to much fanfare, also recently made its debut on the KuCoin exchange. Despite its promise to make payments easier and improve the user experience, PayPal's new digital coin, PayPal USD (PYUSD), is not expected to become widely used any time soon, according to a report by Bank of America. The report suggests that PYUSD will face challenges due to competition from other private stablecoins and CBDCs.
After Ripple's legal win against the SEC, there has been a perceptible shift in market dynamics regarding XRP. Several prominent crypto trading platforms, including Crypto.com, have reenabled XRP trading services. However, this resurgence of XRP has not translated into a proportional price elevation, with values still hovering below $0.50, signaling potential market reservations and prevailing uncertainties in the crypto sphere.
Last updated 9/28/2023, 4:33:41 PM
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