Singapore-based exchange, Crypto.com has become the preferred platform for PayPal Holdings Inc's (NASDAQ:PYPL) PYUSD in a partnership with the company and its issuer Paxos.

Currently, Crypto.com has the strongest liquidity for PYUSD trading pairs at a global level. The exchange has listed the stablecoin for retail and institutional users since its launch in August.

Read Now: Paxos Reveals PayPal Stable Coin PYUSD Is Backed By Treasury And Cash Reserves

Nansen, a blockchain analytics platform, indicates that almost 90% of PYUSD tokens are still held in the issuer Paxos Trust’s wallets as it faces difficulties in gaining consumers' interest, according to Cointelegraph.

The stablecoin, PYUSD is present on major exchanges like Bitstamp, Coinbase, and Kraken and it is also supported as a payment option by BitPay and MetaMask. It forms a part of the green list of coins approved by the New York State Department of Financial Services.

Also Read: PayPal Races Ahead, Venmo Users Get Access to PYUSD

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