A group of former Coinbase executives is launching a new digital asset exchange, TrueX, that will use PayPal’s stablecoin PYUSD as its primary settlement currency.
- True Markets introduced TrueX as a “non-custodial, stablecoin-native exchange” on September 18.
- Paxos raised $9 million in seed funding from the Solana Foundation and Aptos.
- TrueX has partnered with Paxos to adopt PYUSD as its default settlement currency.
- PYUSD stands out with its market cap exceeding $730 million.
- TrueX plans to serve U.S.-based institutions and some international organizations.
