New Coin Listing: PYUSD

Dear Tokenize Xchange Users,

We are thrilled to announce that PayPal USD (PYUSD) will be trading live on Tokenize Xchange from 8 September 2023, 10:00 SGT. Users will be able to buy PYUSD instantly in SGD and USD. 

Introduction

Launched by PayPal in August 2023, PayPal USD (PYUSD) is fully backed by U.S. dollar deposits, short-term U.S. treasuries and similar cash equivalents, and can be redeemed 1:1 for U.S. dollars.

PayPal USD will be accessible to consumers, merchants, and developers, facilitating a seamless connection between traditional and digital currencies. It is the sole stablecoin supported on the PayPal network, benefiting from PayPal’s extensive experience in large-scale payments, as well as the speed, cost-efficiency, and programmability offered by blockchain protocols. Functioning as an ERC-20 token on the Ethereum blockchain, PayPal USD will be readily available to a substantial and expanding community of external developers, wallets, and web3 applications. This makes it easily adoptable by exchanges and allows it to be utilized within the PayPal ecosystem to enhance user experiences.

Read More about PYUSD – https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd 

What can you do with PYUSD on Tokenize Xchange? 

Trade PYUSD directly with Singapore Dollars (SGD) and US Dollars (USD)

• Tokenize Xchange users will be able to buy & sell PYUSD in Singapore Dollars (SGD) and US Dollars (USD) when they fund their accounts with SGD or USD. 
• Deposit and Withdrawal wallet functions to be announced again.

Tokenize Xchange Team,

September 6, 2023