{"id":348491,"date":"2023-08-08T18:15:45","date_gmt":"2023-08-08T17:15:45","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=348491"},"modified":"2023-08-08T14:11:57","modified_gmt":"2023-08-08T13:11:57","slug":"huobi-announces-no-fee-trading-for-paypals-new-pyusd","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/huobi-announces-no-fee-trading-for-paypals-new-pyusd\/","title":{"rendered":"Huobi announces no-fee trading for PayPal’s $26M market cap PYUSD"},"content":{"rendered":"

Cryptocurrency exchange Huobi said it would list the newly launched PayPal's PYUSD stablecoin<\/a> soon, as per an Aug. 8 statement<\/a>.<\/p>\n

Huobi said it would be the first cryptocurrency exchange “to support the launch of PYUSD stablecoin and will provide PYUSD\/USDT trading pairs with 0 trading fee permanently.”<\/p>\n

Huobi failed to provide a definite timeline for when the listing would occur. However, it said it “will open trading for the first time” immediately “when the market circulation and liquidity conditions are ripe.”<\/p>\n

On-chain data<\/a> shows that 26.9 million PYUSD has been issued, with only eight holders. Paxos and an address, 0x264bd8, hold 99% of the stablecoin total supply.<\/p>\n

Huobi battles insolvency rumors.<\/h2>\n

Huobi intends to list the PayPal stablecoin amid recent insolvency rumors surrounding the exchange.<\/p>\n

CryptoSlate\u00a0<\/em>reported<\/a> that Huobi did not record large outflows during the past week, as reported across various media platforms. A Huobi spokesperson blamed the reported outflows on errors from data sources.<\/p>\n

On Aug. 7, Huobi further denied<\/a> any reports that its executives were arrested in China, describing the news as “FUD,” and added that its platform was operating as usual and seeing active participation.<\/p>\n

Justin Sun, Tron Network's founder and Huobi advisor, also denied all of these rumors, saying:<\/p>\n

“Trust in our vision and community efforts for a stronger future. Perseverance guarantees success!”<\/p><\/blockquote>\n

Sun urges PayPal to issue PYUSD on Tron<\/h2>\n

On Aug. 7, Sun invited PayPal to issue its newly launched stablecoin on his blockchain network, Tron.<\/p>\n

Sun said<\/a>:<\/p>\n

“I cordially invite PayPal to consider issuing PYUSD on <\/span>#TRON<\/a><\/span>, which is Fast, secure, and cost-effective with 12 billion USD daily transactions. Mutual benefits await in the digital payment landscape. Let's collaborate for a thriving ecosystem!”<\/span><\/p><\/blockquote>\n

According to DeFillama data<\/a>, Tron is the second-largest blockchain for stablecoins, with around $43.96 billion worth of assets on the network. Tether's USDT is the dominant stablecoin on Tron.<\/p>\n

Earlier in the year, Sun said<\/a> Tron was improving its infrastructure to grow its stablecoin market cap to $60 billion before the end of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency exchange Huobi said it would list the newly launched PayPal’s PYUSD stablecoin soon, as per an Aug. 8 statement. Huobi said it would be the first cryptocurrency exchange “to support the launch of PYUSD stablecoin and will provide PYUSD\/USDT trading pairs with 0 trading fee permanently.” Huobi failed to provide a definite timeline for […]<\/p>\n","protected":false},"author":720,"featured_media":348498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,32631],"tags":[77001,76888,78765,76988],"post_folder":[],"acf":[],"yoast_head":"\nHuobi announces no-fee trading for PayPal's $26M market cap PYUSD<\/title>\n<meta name=\"description\" content=\"Huobi said it would list PayPal PYUSD stablecoin when the marketing conditions becomes right, according to an Aug. 8 statement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/huobi-announces-no-fee-trading-for-paypals-new-pyusd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huobi announces no-fee trading for PayPal's $26M market cap PYUSD\" \/>\n<meta property=\"og:description\" content=\"Huobi said it would list PayPal PYUSD stablecoin when the marketing conditions becomes right, according to an Aug. 8 statement.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/huobi-announces-no-fee-trading-for-paypals-new-pyusd\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-08T17:15:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-08T13:11:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/pyusd-paypal.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/huobi-announces-no-fee-trading-for-paypals-new-pyusd\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/huobi-announces-no-fee-trading-for-paypals-new-pyusd\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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