PayPal Holdings, Inc. and Coinbase Global, Inc. are expanding their partnership to improve the adoption and functionality of the PayPal USD (PYUSD) stablecoin. This collaboration will facilitate increased transactions and integration for both consumers and institutions. Alex Chriss, PayPal's CEO, emphasized the synergy in enhancing commerce applications through stablecoin technology. Key features include 1:1 conversions between PYUSD and USD without fees for Coinbase users and a commitment to innovation in stablecoin solutions. The partnership also aims to explore decentralized finance (DeFi) use cases for PYUSD.
Our objectives aligned further as we deployed PYUSD in combination with our payments expertise, enabling greater commerce applications.
The expanded partnership will grant Coinbase's millions of customers direct access to PYUSD while also providing thousands of institutions with increased utility.
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