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Kraken now supports PYUSD deposits and withdrawals on the Stellar network
Cryptocurrency exchange Kraken announced that it has launched support for deposits and withdrawals of the PayPal USD (PYUSD) stablecoin on the Stellar network via its platform. PYUSD is a digital dollar-pegged stablecoin issued by Paxos Trust Company. Stellar is an open-source blockchain designed specifically for payments, with transaction settlement times of approximately five seconds and low network fees, making it well-suited for large-scale stablecoin circulation. PYUSD on Stellar is issued natively by Paxos, rather than via a cross-chain bridge.
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