Justin Sun offered to use the TRON network to launch PYUSD
Justin Sun offered to use the TRON network to launch PYUSD
Justin Sun, the founder of the TRON blockchain and one of the most controversial and popular people in the crypto market, has offered the payment system PayPal a partnership to launch its PYUSD coin on the TRON network.
On his X (Twitter) page, Justin Sun addressed PayPal's proposal to issue its cryptocurrency on TRON, which, according to him, is fast and secure. In addition, he stated that such cooperation is mutually beneficial and will benefit the world of cryptocurrencies.
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The TRON founder presented his proposal after PayPal announced the upcoming launch of the stable coin PYUSD, which is pegged to the US dollar and will be exchanged at a 1:1 ratio.
PYUSD is an ERC-20 standard token running on the Ethereum blockchain, allowing it to interact with a wide range of external developers, wallets, and web3 applications.
The coin will be launched by Paxos Trust Company, a technology company specializing in blockchain.
It is worth noting that the launch of PYUSD was originally planned by PayPal in cooperation with FTX on the Solana network, but the bankruptcy of the exchange forced the payment system to reconsider its intentions.
See also: KuCoin tightened the requirements for the KYC procedure.
