PayPal's PYUSD Stablecoin Gains Traction in DeFi with $135M TVL on Curve's FRAXPYUSD Pool

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Cointime2024/01/10 05:56

By:Cointime

PayPal's stablecoin PYUSD is gaining traction in decentralized finance (DeFi), with a new liquidity pool on the Curve platform boasting $135 million in total value locked. The FRAXPYUSD pool, which includes Frax Finance's stablecoin FRAX, allows traders to swap FRAX for PYUSD and use the coin on the PayPal app for purchases and remittances. However, PYUSD still lags behind industry leaders Tether and Circle in terms of daily trading volume. Frax Finance founder Sam Kazemian believes the FRAXPYUSD pool will continue to grow, with potential DeFi integration supported by PayPal's payment app.

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