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Kraken announces support for PayPal’s PYUSD stablecoin



Kraken Exchange has once again established itself as a frontrunner in the cryptocurrency industry, despite the ongoing dynamic development of the cryptocurrency market. Recently, the well-known exchange made the announcement on X that it will be supporting PYUSD, the innovative stablecoin that PayPal has developed. 

This move makes new opportunities available to traders and investors, with the ability to make deposits, withdraw funds, and start trading with PYUSD on the 21st of August, 2023.

In keeping with Kraken Exchange’s mission to be at the forefront of innovation within the cryptocurrency landscape, the integration of PYUSD into the exchange’s platform is a perfect fit. Exchanges that provide a wide variety of assets and trading options are in a better position to gain a competitive advantage as the sector continues to transform. 

Kraken demonstrates its dedication to providing users with trading experiences that are flexible, secure, and profitable by acknowledging the potential of stablecoins and partnering with PayPal.

Kraken’s acceptance of PayPal’s PYUSD is timely, as stablecoins are increasingly seen as a means of bridging the gap between the traditional financial system and the blockchain-based digital economy. 

Thanks to PayPal’s established status as a leading global payments provider, the partnership bolsters the legitimacy of cryptocurrencies and moves them closer to mainstream acceptance. 

Read also: How Ethereum Validator Watcher can help monitor validators real-time


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