- Experienced Leadership at the Helm
- PayPal's PYUSD Stablecoin as Main Token
- Funding and Partnership with Paxos
Two former Coinbase executives have teamed up to create a new cryptocurrency exchange called TrueX, which will primarily use PayPal's stablecoin, PYUSD, as its main operating token. The venture aims to utilize their deep experience in the crypto and financial sectors to bring innovation to the digital currency world.
Experienced Leadership at the Helm
Vishal Gupta, who previously headed the exchange division at Coinbase, and Patrick McCreary, a former senior staff engineer at the same company, are the co-founders of TrueX. Both Gupta and McCreary have a wealth of experience from their past roles, including time spent at Goldman Sachs. Gupta played a key role in the launch of the USDC stablecoin while at Circle Internet Financial Ltd., bringing valuable knowledge to the new project. Their combined experience positions TrueX as a strong contender in the ever-changing cryptocurrency market.
PayPal's PYUSD Stablecoin as Main Token
The primary operating token on the TrueX platform will be PayPal's PYUSD stablecoin. The use of this instrument aims to provide stability in trading operations and reduce the risks associated with the volatility of other cryptocurrencies. The platform aims to offer institutional users innovative solutions for asset management and digital currency trading.
Funding and Partnership with Paxos
TrueX has secured $9 million in funding and partnered with Paxos to ensure secure asset management. This strategic partnership is aimed at strengthening trust in the platform and providing users with the most advanced technologies and services in the cryptocurrency sphere.
The combination of the founders' extensive experience, the use of the PYUSD stablecoin, and a strategic partnership with Paxos make TrueX a promising platform in the digital currency world. The project is expected to bring significant innovations and strengthen its position in the cryptocurrency sector.
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