Crypto Exchange Huobi to List PayPal’ Stablecoin 

Huobi has announced its plans to list PYUSD, the stablecoin recently launched by PayPal on Monday. The crypto exchange revealed that it will be the first platform to offer support for the PYUSD stablecoin, presenting trading pairs such as PYUSD/USDT with a permanent zero trading fee.

Although Huobi did not specify the exact listing date for PayPal’s stablecoin, the company mentioned that it will initiate trading as soon as market circulation and liquidity conditions are favorable.

Interestingly, this announcement closely followed a tweet by Huobi advisor and Tron founder Justin Sun, expressing his aspiration to have PayPal consider issuing PYUSD on the Tron network. Sun highlighted the potential for mutual benefits in the digital payment landscape.

PayPal introduced its own US dollar stablecoin through a partnership with Paxos. The company stated that PYUSD, fully backed by US dollar deposits, short-term treasuries, and similar cash equivalents, will gradually become accessible to users in the United States.

Notably, Huobi’s announcement arrives amidst ongoing rumors about the potential arrests of its executives in China, as reported by a Hong Kong media outlet. To combat the negative sentiment, Huobi advisor Justin Sun employed a commonly-used phrase in the crypto community, indicating that the exchange remains resilient in the face of such fear, uncertainty, and doubt (FUD).