We’re thrilled to announce that PayPal USD (PYUSD) is now available on Kraken! Deposits and withdrawals are live and PYUSD will start trading on Kraken on August 21.
Funding your account
Add PYUSD to your Kraken account by navigating to Funding, selecting the asset, and hitting Deposit. Only deposit PYUSD on the Ethereum network. Deposits using other networks will be lost.
Ready to trade but don’t have a Kraken account yet?
PYUSD is tradeable on Kraken and Kraken Pro with the following parameters:
Note:
Trading via Kraken App and Instant Buy will be available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched).
Here’s what you need to know about the tokens:
PayPal USD (PYUSD) is a stablecoin with a value pegged to the U.S. dollar. According to PayPal, PYUSD is collaterized by USD deposits, short-term U.S. treasuries and similar assets. This collateral aims to maintain the stablecoin’s peg to the USD, regardless of cryptocurrency market fluctuations. Users can utilize PYUSD for various functions such as transferring between PayPal and external wallets, person-to-person payments, funding purchases and converting among PayPal-supported cryptocurrencies.
Already have PYUSD and a Kraken account? Click below to get started!
Will Kraken make more assets available?
Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be making available in the future.
Trade with caution
There is no guarantee that a limit order will execute. There is also no guarantee a market order will execute at a certain price. The availability and liquidity of the particular digital asset will impact these types of orders.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken will not undertake efforts to increase the value of any cryptoasset that you buy. Crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
Source: https://blog.kraken.com/news/trading-for-paypal-usd-pyusd-starts-august-21-deposit-now
