Top US-based crypto exchange by trading volume Coinbase has joined forces with digital financial services giant PayPal to advance crypto adoption and usability.
According to a new press release, the collaboration centers on PayPal’s stablecoin, PYUSD, and how Coinbase users will experience zero fees when purchasing or converting PYUSD on the platform.
By waiving fees, Coinbase seeks to boost accessibility to PayPal’s stablecoin, thereby streamlining its integration into the broader crypto ecosystem.
Says Alex Chriss, President and CEO of PayPal,
“For years, we’ve worked with Coinbase to enable a best-in-class integration to provide a simple, familiar way for PayPal users to fund crypto purchases on Coinbase. Our objectives aligned further as we deployed PYUSD in combination with our payments expertise enabling greater commerce applications.
We are excited to drive new, exciting, and innovative use cases together with Coinbase and the entire cryptocurrency community, putting PYUSD at the center and driving further utility and adoption for digital currencies among developers, customers, and other users.”
The partnership’s ambitions extend beyond reducing financial barriers. Coinbase and PayPal will also explore innovative use cases for crypto payments, emphasizing real-world applications. From facilitating cross-border transactions to enabling seamless online payments, the initiative represents a strategic effort to demonstrate the tangible benefits of blockchain technology.
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