TrueX Exchange Adopts PayPal’s Stablecoin PYUSD for Settlements

BY admin user

TrueX, a cryptocurrency exchange, has announced the adoption of PayPal’s PYUSD stablecoin as its default settlement currency. Founded by two former Coinbase executives and developed by its parent company, True Markets, the platform is set to launch trading features in the coming weeks, initially offering spot trading for several major cryptocurrencies. PYUSD is currently the fourth-largest stablecoin by market capitalization, following USDT, USDC, and DAI.

TrueX is exclusively available to institutional investors, with settlement handled by Paxos, the issuer of the stablecoin. In the future, the platform plans to introduce additional stablecoin settlement options and expand its trading services. True Markets previously raised $9 million in seed funding, with investors including Paxos, the Solana Foundation, and Aptos.

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