Former Coinbase staffers have started a new cryptocurrency exchange named TrueX, according to Bloomberg. The exchange is promoted as a venue that encourages crypto trading with PYUSD, the stablecoin issued by PayPal.
Vishal Gupta and Patrick McCreary, the founders, are seasoned individuals with prominent roles in the bitcoin space. TrueX bases all of its transactions on the PYUSD with the goal of offering traders a stable and safe environment.
The Founders of TrueX’s background and experience
One of TrueX’s co-founders, Vishal Gupta, was instrumental in the introduction of the USDC stablecoin under Circle Internet Financial Ltd. while he was Coinbase’s exchange president. TrueX’s novel structure has been made possible in large part by Gupta’s experience.
The other co-founder, Patrick McCreary, held a number of positions at Goldman Sachs Group Inc. and was a senior engineer at Coinbase. Due to their extensive backgrounds in finance, both people are noteworthy.
Trying to Achieve PYUSD Transaction Stability
By using the PYUSD stablecoin, TrueX hopes to reduce market volatility in cryptocurrencies. Among cryptocurrencies, this stablecoin—which was first offered by PayPal—is renowned for offering price stability.
Platform users will be able to trade with PYUSD and have a dependable and quick experience. TrueX sets itself apart from other bitcoin exchanges with this action.
With its creative methods and stability-focused tactics, TrueX is anticipated to make a significant impact in the cryptocurrency industry.
