Kraken Enables PYUSD Deposits and Withdrawals via Stellar

Kraken has enabled deposits and withdrawals of PYUSD (PayPal USD), a digital dollar stablecoin, via Stellar.

The PYUSD on Stellar is natively issued by Paxos Trust Company, making it a direct and fully reserved digital dollar on a network optimized for payments.

Stellar's blockchain is designed for fast and low-cost transactions, with settlement times of around five seconds and fees typically costing less than a cent. This makes it suitable for moving stablecoins at scale.

The availability of PYUSD deposits and withdrawals via Stellar is part of Kraken's ongoing efforts to expand its offerings and provide clients with more options for accessing digital assets.