Colombia
Upbit lists PayPal USD (PYUSD)
Upbit, a major South Korean cryptocurrency exchange, opened spot trading for PayPal USD (PYUSD) on September 17, 2026, at 03:00 UTC. PYUSD is a stablecoin pegged 1:1 to the US dollar, issued by Paxos Trust Company and supported by PayPal for on-chain dollar transfers and payments.
Key details
- Exchange: Upbit
- Asset: PayPal USD (PYUSD)
- Market: Spot
- Trading pairs: PYUSD/KRW, PYUSD/BTC, PYUSD/USDT
- Date and time: September 17, 2026, 03:00 UTC
- Source: https://upbit.com/service_center/notice?id=6580
What it means
The listing enables Upbit users to trade PYUSD directly against Korean won, Bitcoin, and USDT, expanding access and liquidity for PayPal's stablecoin on the platform. PYUSD operates on Ethereum and maintains a 1:1 value with the US dollar through issuance and redemption mechanisms. Traders should note that Upbit imposed temporary restrictions during the first hours of trading: buying orders were limited for approximately 5 minutes, sell orders below the previous day's close minus 10% were restricted, and most order types except limit orders were unavailable for about 2 hours to manage initial volatility.