PayPal and Coinbase Expand Stablecoin Partnership

PayPal and Coinbase have deepened their partnership to boost adoption of the PayPal USD (PYUSD) stablecoin. The collaboration will enable:

- Fee-free PYUSD transactions on Coinbase, with 1:1 USD redemptions
- New payment innovations for global money movement and commerce
- Exploration of DeFi use cases using PYUSD across decentralized platforms

The move is part of a broader push to grow PYUSD's utility and adoption among developers, businesses, and consumers.

PYUSD is issued by Paxos Trust Company and is backed by U.S. dollar reserves, including Treasuries and equivalents.

Both firms emphasized their long-term goal of mainstreaming stablecoin-based solutions in digital finance.