Transak adds support for buying/selling PYUSD from PayPal – DiarioBitcoin

The users of Transak In more than 160 countries you can buy and sell PYUSD from the app paying with fiat money.

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• PYUSD of PayPal is now available through Transak
• Now it is possible to buy and sell PYUSD with fiat money from the app
• The measure seeks to enable spaces for the stablecoin to reach more people

Transak, Payment service provider Web3, which supports around 170 cryptocurrencies and operates in more than 160 countries, announced the addition of PayPal USD (PYUSD), allowing users to acquire and/or trade the stablecoin directly for fiat money.

Transak list to PYUSD

This was indicated by the company in a statement reviewed by the team of The Block where they report that this new access ramp for PYUSD is part of the efforts of Transak to provide more possibilities to users, especially those interested in trying cryptocurrency payments and accessing the stablecoin supported by the team PayPal.

In this regard, the CEO of Transak, Sami Start, indicated:

One of the main challenges to greater adoption of cryptocurrencies has been the difficulty of converting traditional currencies into these assets. By including PYUSD, we provide a trusted on-ramp for merchants, leveraging PayPal’s familiarity and reputation to ease the transition into the world of decentralized finance.

Operating in more than 160 countries, users of Transak You will now be able to access PYUSD through fiat payments, including transfers via SEPA and payments via Google/Apple Pay.

Greater access to PYUSD

It is important to highlight that Transak joins the growing group of entities that support the stablecoin of PayPal, This with the purpose of bringing the currency closer to a greater number of users around the world.

Currently, exchanges like Coinbase, Kraken, Crypto.com and many others admit the trade of PYUSD for US dollars. Venmo It also has support for payments with the stablecoin, and other services are adding support to incorporate it into their products and services.

As to PYUSD, It currently has about USD $402.3 million in circulation at the time of publication, ranking #138 among the cryptocurrencies with the highest market capitalization.

Article by Angel Di Matteo / DailyBitcoin

Picture of Unsplash, edited with Canva

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.