Crypto.com announced in a press release on Thursday, September 28th that it has entered into a strategic partnership with PayPal and Paxos. The main objective of the collaboration is to make Crypto.com the primary cryptocurrency exchange for PayPal’s PYUSD stablecoin.

The cryptocurrency exchange has already listed the PYUSD stablecoin on its platform, which is now available to both retail and institutional investors. It also has the deepest liquidity for PYUSD trading pairs globally.

Joe Anzures, SVP and GM, Americas and Global Head of Payment Partnerships at Crypto.com, expressed his enthusiasm about the new partnership:

“PayPal has been a true pioneer in the digital commerce evolution, and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier. Connecting our more than 80 million users to the latest crypto innovations, as well as supporting PayPal’s global network of consumers and merchants, will be pivotal in our continued pursuit of crypto to every wallet.”

This expansion of the partnership between Crypto.com and PayPal follows the launch of the latter’s PYUSD stablecoin. PYUSD is an Ethereum-based stablecoin that is pegged to the US Dollar and is currently available to PayPal users in the United States.

Crypto.com also highlighted that the two entities’ earlier partnership allowed customers to use PayPal to top up the Crypto.com Visa Card. Moreover, PayPal recently launched a crypto-for-USD conversion service, making it easier for users to convert their cryptocurrencies to USD and vice versa.