“Huobi is committed to maintaining friendly interaction with high-quality projects and companies in the blockchain industry. It will be the first exchange to support the launch of the PYUSD stablecoin,” the company announced.
The exchange will also introduce PYUSD/USDT trading pairs with zero commission. Huobi reminded that 26.9 million PYUSD have already been issued so far.
PayPal payment service PayPal announced the launch of stablecoin into circulation on Monday, August 7. PYUSD is issued with the help of Paxos Trust. Stablecoin is backed by U.S. dollar deposits, short-term Treasury bonds and similar cash equivalents.
PayPal said in February that it had suspended development of its own stablecoin. The decision was influenced by an investigation by US regulators into Paxos.