Two ex-senior executives from Coinbase, Vishal Gupta and Patrick McCreary, have announced the launch of TrueX. This new crypto exchange will focus on stablecoins, using PayPal Holdings Inc.’s PYUSD as its “preferred token for transactions.”
According to a Bloomberg report, TrueX aims to cater primarily to institutional investors in the US and select international markets.
This move comes as stablecoins, like PYUSD, have become integral to the crypto ecosystem, offering a stable value pegged to the US dollar and serving as a bridge for trading other digital assets.
TrueX and Its Place In The Crypto Market
Vishal Gupta, who co-founded TrueX, previously led the launch of the USDC stablecoin while working at Circle and was also the head of exchange at Coinbase.
According to Bloomberg, his co-founder, Patrick McCreary, was a senior staff engineer at Coinbase, with both having backgrounds at Goldman Sachs.
We’ve been waiting weeks for this and I’m excited to announce
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