{"id":139537,"date":"2023-09-02T01:26:36","date_gmt":"2023-09-01T19:56:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=139537"},"modified":"2023-09-02T01:26:36","modified_gmt":"2023-09-01T19:56:36","slug":"kraken-allows-paypal-stablecoin-pyusd-trading-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/kraken-allows-paypal-stablecoin-pyusd-trading-crypto-news\/","title":{"rendered":"Kraken Allows PayPal Stablecoin (PYUSD) Trading – Crypto News"},"content":{"rendered":"

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Crypto exchange Kraken has confirmed it will begin trading PayPal\u2019s stablecoin, <\/span>PayPal (PYUSD) <\/span><\/a>from August 21, further solidifying the stablecoin\u2019s growing presence in the digital asset market. The <\/span>support<\/span><\/a> encompasses deposits and withdrawals, with the caveat that transactions must be worth at least $5.00 and confined to the Ethereum blockchain.<\/span><\/p>\n

Kraken\u2019s decision follows several other exchanges that have added PYUSD to their platforms since PayPal introduced the stablecoin on August 7. The digital asset is fully-backed and pegged to the U.S. dollar, contributing to its rapid adoption in the market. ByBit, Changelly, and Huobi have all included PYUSD in their offerings, and on-chain data shows a robust market activity, with $26.9 million worth of PYUSD already issued.<\/span><\/p>\n

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Hardware Wallet Ledger Integrates with PayPal\u00a0<\/b><\/h2>\n

Additionally, hardware manufacturer Ledger has partnered with PayPal to provide a secure platform for users to access cryptocurrencies. The integration allows U.S. users to purchase digital currencies like Bitcoin, <\/span>Ethereum<\/span><\/a>, Bitcoin Cash, and Litecoin using their linked PayPal accounts through the Ledger Live companion app.\u00a0<\/span><\/p>\n

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The acquired assets are automatically transferred to the user\u2019s Ledger hardware wallet, streamlining the buying process. However, this partnership does not include access to PYUSD through Ledger, which leaves the stablecoin\u2019s reach limited to exchanges for the time being.<\/span><\/p>\n

Regulation for Stablecoins<\/b><\/h2>\n

Despite the growing acceptance of PYUSD, regulatory concerns around stablecoins<\/a> persist. U.S. Congresswoman <\/span>Maxine Waters <\/span>has voiced the need for comprehensive oversight of stablecoins, like PayPal\u2019s PYUSD, to safeguard users and ensure financial stability. Waters\u2019 concerns are not unfounded, considering that PayPal\u2019s enormous global customer base surpasses many central banks.<\/span><\/p>\n

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The introduction of PayPal\u2019s stablecoin PYUSD has significantly impacted the digital asset market, marked by its inclusion on major exchanges like Kraken and growing user adoption. However, the broader implications of this trend are yet to be seen as the regulatory environment adapts to these new financial technologies.<\/span><\/p>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Crypto exchange Kraken has confirmed it will begin trading PayPal\u2019s stablecoin, PayPal (PYUSD) from August 21, further solidifying the stablecoin\u2019s growing presence in the digital asset market. The support encompasses deposits and withdrawals, with the caveat that transactions must be worth at least $5.00 and confined to the Ethereum blockchain. Kraken\u2019s decision follows several other […]<\/p>\n","protected":false},"author":2,"featured_media":70634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-139537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=139537"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139537\/revisions"}],"predecessor-version":[{"id":147680,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139537\/revisions\/147680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/70634"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=139537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=139537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=139537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}