Wed, September 18, 2024 at 13:39

• 

  Joy

  • Hey Annie!

  • Guess what?

  • Two former Coinbase employees, Vishal Gupta and Patrick McCreary, just launched a new crypto exchange called TrueX!😄

  • 
• Annie

  • Oh, really?

  • That's interesting!

  • What makes TrueX different from other exchanges?🤔

  
• 

  Joy

  • Great question!

  • TrueX is a non-custodial, stablecoin-native exchange.

  • This means they don't hold any of the assets themselves; they just facilitate transactions using stablecoins.

  • Pretty cool, right?😎

• Annie

  • Wow, that does sound cool!

  • So, which stablecoin are they using?

  • USDC, I assume?😊

  
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• 

  Joy

  • You'd think so, but no!

  • Despite Gupta helping to launch USDC at Coinbase, they've chosen PayPal's PYUSD for TrueX.🤑

  • 
• Annie

  • That's surprising!

  • Why did they go with PYUSD instead of USDC?🤨

  
• 

  Joy

  • Good question!

  • Gupta believes PYUSD will revolutionize the crypto markets.

  • Plus, Paxos Trust Company, which issues PYUSD, is also a third-party custodian for TrueX.🤓

• Annie

  • Interesting choice!

  • Did they get any backing for this new venture?💰

  
• 

  Joy

  • Absolutely!

  • They raised $9 million in seed funding.

  • The exchange is backed by VC firms like Hack VC and RRE Ventures.💸

• Annie

  • That's a lot of money!

  • So, where did they announce this new exchange?🌐

  
• 

  Joy

  • They announced it at the Token2049 conference in Singapore.

  • Gupta even mentioned it on his X platform.📢

• Annie

  • Token2049?

  • That's a big event!

  • So, what exactly will TrueX offer?📈

  
• 

  Joy

  • TrueX will offer markets and liquidity as a service globally.

  • They have a matching engine to facilitate price discovery and match buy and sell orders.🚀

• Annie

  • Sounds like they have big plans!

  • How do you think this will impact PYUSD?📊

  
• 

  Joy

  • Oh, it's definitely a big boost for PYUSD!

  • Even though it's currently the fifth-largest stablecoin with a market cap of $733 million, this could help it catch up to USDT and USDC.📈

• Annie

  • That's impressive!

  • But isn't USDC also expanding?

  • I heard something about Brazil and Mexico?🌎

  
• 

  Joy

  • You're right!

  • USDC is expanding to Brazil and Mexico through local bank transfers and real-time payment systems.

  • It's a huge step for them in Latin America.🌍

• Annie

  • Wow, both stablecoins are making big moves!

  • So, do you think TrueX will be successful?🤔

  
• 

  Joy

  • I think so!

  • With Gupta and McCreary's experience from Coinbase and Goldman Sachs, plus the backing they've received, TrueX has a strong foundation.

  • It's definitely a positive development for the market!🌟

  • To sum up, this article is considered a 😍Bullish for investors!!