Former Coinbase Executives Launch Exchange Using PayPal Stablecoin

True Markets has unveiled TrueX, a non-cosmodal crypto exchange that uses PayPal's USD (PYUSD) stablecoin for settlement.

- The exchange has raised $9 million in funding from Paxos, Solana Foundation, and others.

- The US dollar-backed PYUSD will be the primary settlement currency.

- The exchange will initially be available to US and some international institutions.

📉 Institutional investors continue to dive into Web3.