Enhanced Collaboration for Stablecoin Adoption
PayPal Holdings, Inc. (NASDAQ: PYPL) and Coinbase Global, Inc. (NASDAQ: COIN) have announced an expanded partnership to accelerate the adoption and utility of the PayPal USD (PYUSD) stablecoin. This collaboration aims to streamline fee-free purchases and 1:1 USD redemptions for PYUSD on Coinbase platforms while exploring new payment solutions.
👉 Discover how PYUSD is transforming digital payments
Key Features of the Partnership
- Fee-Free Transactions: Coinbase users can buy, sell, and trade PYUSD without platform fees.
- Seamless Redemption: Convert PYUSD to USD at a 1:1 ratio directly on Coinbase.
- Payment Innovations: Joint development of stablecoin-based solutions for global commerce.
- DeFi Exploration: Potential integration of PYUSD in decentralized finance (DeFi) platforms.
Quotes from Leadership
Alex Chriss, CEO of PayPal:
"Our partnership with Coinbase aligns with our mission to drive crypto-native commerce and expand PYUSD’s utility for developers and consumers."
Brian Armstrong, CEO of Coinbase:
"PayPal’s 430M+ user base presents a unique opportunity to scale stablecoin adoption worldwide."
Background and Future Goals
This agreement builds on a 2021 initiative allowing Coinbase users to fund purchases via PayPal. Future plans include:
- Cross-border payment solutions leveraging PYUSD.
- Institutional adoption through Coinbase’s enterprise platforms.
- Onchain integrations for DeFi and Web3 applications.
FAQ Section
Q: How does PYUSD maintain its 1:1 peg to USD?
A: PYUSD is backed by U.S. dollar deposits and Treasuries, audited regularly by Paxos Trust Company.
Q: Can businesses use PYUSD for B2B transactions?
A: Yes! PayPal and Coinbase are collaborating to enable stablecoin-based B2B payments.
Q: What makes PYUSD different from other stablecoins?
A: PYUSD combines PayPal’s regulatory compliance with Coinbase’s crypto infrastructure for seamless usability.
👉 Learn more about the future of stablecoins
About the Companies
PayPal USD (PYUSD)
- Issued by Paxos Trust Company (regulated by NYDFS).
- Fully backed by reserves (cash equivalents and Treasuries).
Coinbase
- A leader in crypto infrastructure serving 1B+ users.
- Advocates for economic freedom via blockchain technology.
For media inquiries, contact PayPal’s press team.
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