Launch of the TrueX Platform

Two former Coinbase employees have announced the launch of the cryptocurrency platform TrueX, which uses the stablecoin PYUSD for transactions. Vishal Gupta, a co-founder, previously led Coinbase's markets and launched USDC, while Patrick McCreery was a senior engineer at the company. The platform focuses on stablecoins, helping users avoid volatility.

Initially, TrueX will be available to American users and companies from several countries. The issuer of PYUSD, Paxos Trust Co., will provide custodial services. The startup raised $9 million in its first funding round from several venture capital firms.

With a team of this experience, TrueX could make a significant impact on the stablecoin and cryptocurrency markets.