Founders who used to work at Coinbase, Circle and Goldman Sachs teamed up to create an exchange that will use PayPal USD as its main settlement currency.
A team of former Coinbase executives will launch a digital asset exchange using PayPal’s stablecoin as its form of settlement.
On Sept. 18, True Markets unveiled TrueX, a crypto platform advertised as a “non-custodial, stablecoin-native exchange.” The platform secured $9 million in seed funding from investors like Paxos, Solana Foundation, Aptos and many others.
In a press release, the platform announced it’s working with the PayPal USD (PYUSD) stablecoin issuer Paxos to utilize PYUSD as the platform’s default settlement currency. PYUSD is one of the biggest cryptocurrencies in the crypto space, with a market capitalization of over $730 million.
