Ex-Coinbase Execs to Launch Crypto Exchange Using PayPal Stablecoin

A cohort of former Coinbase executives is set to launch TrueX, a new digital asset exchange that will utilize PayPal’s stablecoin, PYUSD, as its primary settlement currency. On Sept. 18, True Markets introduced TrueX, branding it as a “non-custodial, stablecoin-native exchange.” This venture garnered $9 million in seed funding from notable backers including Paxos, Solana Foundation, and Aptos. According to a press release, TrueX has partnered with Paxos, the issuer of the PayPal USD stablecoin, to adopt PYUSD as the default settlement currency on its platform. PYUSD boasts a significant presence in the crypto world, with a market capitalization exceeding