EddieJayonCrypto
24 Apr 25
PayPal and Coinbase have expanded their partnership to promote the adoption and real-world use of PayPal USD (PYUSD), a regulated stablecoin. Coinbase users can now buy PYUSD without fees and redeem it 1:1 for US dollars on Coinbase platforms. The collaboration aims to integrate PYUSD across both co...
PayPal and Coinbase have significantly deepened their partnership to drive the widespread adoption and real-world use of PayPal USD (PYUSD), a regulated stablecoin. Through this collaboration, Coinbase users can now purchase PYUSD without any fees and redeem it on a 1:1 basis for US dollars directly on the Coinbase platform.The alliance aims to integrate PYUSD seamlessly into both companies' ecosystems, promoting its use across commerce and decentralized finance (DeFi) platforms. Building on their initial 2021 collaboration, this new phase embeds PYUSD as a core digital asset, enabling innovative cross-border payment solutions, faster transactions, and cost-effective financial tools for consumers and businesses.Both PayPal and Coinbase plan to leverage Coinbase’s on-chain infrastructure to explore DeFi applications, allowing developers to build automated financial services and Web3 platforms powered by PYUSD. This approach addresses growing market demand, as stablecoin adoption surged in 2024 with a 63% increase in supply to $225 billion and over 30 million active wallets.Stablecoins facilitated $35 trillion in transfers last year, outpacing Visa and Mastercard combined, highlighting their crucial role in the evolving digital economy. By combining PayPal’s vast user base of 430 million accounts with Coinbase’s crypto expertise, the partnership is positioned to elevate PYUSD beyond mere trading, envisioning its use in everyday payments.This strategic move underscores the burgeoning importance of regulated stablecoins and positions PYUSD as a leading fiat-pegged token, bridging traditional finance and the decentralized future.