VALR, a global cryptocurrency exchange serving over 900,000 retail and institutional traders, has announced the listing of PayPal USD (PYUSD) on its platform. Starting Tuesday, 30 April 2024, users will be able to trade PYUSD against both Tether (USDT) and the South African Rand (ZAR), enhancing accessibility and flexibility in digital asset transactions.
PayPal launched its own dollar-denominated stablecoin, PYUSD, in August 2023, marking a significant milestone as the first such initiative by a major U.S. financial institution. This stablecoin is fully backed by secure assets, including U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents, ensuring a consistent 1:1 redemption value with the U.S. dollar. Built on the Ethereum network, PYUSD emphasizes compatibility with widely adopted blockchain standards.
Benefits of the PYUSD Listing on VALR
The introduction of PYUSD on VALR allows users to move seamlessly between cryptocurrencies and traditional financial systems. This integration supports faster entry and exit from crypto markets while offering exposure to the extensive PayPal ecosystem.
Gianluca Sacco, Chief Operating Officer at VALR, expressed his enthusiasm:
"Our goal is to provide a high-performance, high-integrity trading environment. Listing PYUSD alongside major trading pairs enables users to harness the potential of a globally recognized stablecoin while bridging the gap between conventional finance and the crypto economy."
Trading Pairs and Key Features
From 30 April 2024, VALR users can access the following trading pairs:
- PYUSD/USDT
- PYUSD/ZAR
This move is set to provide more avenues for liquidity, hedging, and diversified portfolio strategies. Users can expect competitive pricing and deep liquidity, thanks to VALR’s robust trading infrastructure.
Why This Listing Matters
VALR, headquartered in Johannesburg, South Africa, has built a strong reputation as a secure and innovative platform offering spot, margin, perpetual futures, and over-the-counter (OTC) trading services. With over $15 billion in lifetime trading volume and a user base spanning more than 60 countries, the platform is well-positioned to support growing demand for stablecoin liquidity.
The inclusion of PYUSD aligns with VALR’s mission to offer a seamless gateway into the crypto world. It also reflects a broader industry trend where traditional finance and digital assets continue to converge.
About VALR Exchange
VALR is a globally recognized cryptocurrency exchange that provides a wide range of financial products for both retail and institutional clients. The platform supports trading in numerous cryptocurrencies and offers advanced features such as:
- Spot trading
- Margin trading
- Perpetual futures contracts
- OTC trading desks
The company has raised $55 million in equity funding from leading investors, including Coinbase Ventures, Pantera Capital, and Avon Ventures, an affiliate of Fidelity Investments’ parent company. It is also licensed to operate in multiple jurisdictions, including Europe.
For those interested in exploring advanced trading tools and liquidity options, 👉 discover more trading strategies here.
Frequently Asked Questions
What is PayPal USD (PYUSD)?
PYUSD is a U.S. dollar-backed stablecoin launched by PayPal in 2023. It is fully collateralized by cash and cash-equivalent assets and operates on the Ethereum blockchain.
When will PYUSD be available for trading on VALR?
PYUSD will be listed on VALR on 30 April 2024. It will be tradable against USDT and the South African Rand (ZAR).
Why is the PYUSD listing significant?
This listing allows VALR users to access a stablecoin issued by a major financial services provider, improving liquidity and making it easier to move between crypto and fiat currencies.
Is PYUSD available outside the VALR platform?
Yes, PYUSD can be used within the PayPal network and on other supported exchanges and wallets. However, its availability on VALR expands its reach in emerging and liquid markets.
Can I use PYUSD for international transfers?
Yes, like many stablecoins, PYUSD enables fast and low-cost cross-border transactions, making it useful for remittances and international trade.
How does VALR ensure security for new token listings?
VALR employs rigorous security protocols, including multi-party computation (MPC) custody, real-time monitoring, and compliance with international regulatory standards.
VALR continues to strengthen its position as a forward-thinking exchange focused on user experience and financial innovation. The PYUSD listing is a testament to its commitment to providing diverse and efficient digital asset solutions for a global audience.