Today, Crypto.com announced that it has partnered with PayPal and Paxos to make Crypto.com a preferred exchange for PayPal USD (PYUSD). PYUSD has already been listed on the Crypto.com platform for both retail and institutional customers, and it now has the most extensive worldwide liquidity for PYUSD trading pairs.

“PayPal has been a true pioneer in the digital commerce evolution and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier,” said Joe Anzures, SVP and GM, Americas and Global Head of Payment Partnerships, Crypto.com. “Connecting our more than 80 million users to the latest crypto innovations, as well as supporting PayPal’s global network of consumers and merchants, will be pivotal in our continued pursuit of crypto to every wallet.”

This expands on the earlier integrations between PayPal and Crypto.com, which allowed users to top up their Crypto.com Visa Card using PayPal. Moving ahead, PayPal and Crypto.com will keep investigating ways to expand the market’s access to connected top up and commerce features.

PYUSD, which is issued by Paxos Trust Company and redeemable 1:1 for U.S. dollars, is fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and comparable cash equivalents. Retail customers of Crypto.com may now make PYUSD deposits using the Crypto.com App, and trading features will be available shortly.