PayPal and Coinbase Expand Partnership to Drive Innovation of Stablecoin-based Solutions

Core Insights - PayPal and Coinbase are expanding their partnership to enhance the adoption and utilization of PayPal USD (PYUSD) stablecoin, aiming to provide value across consumer, enterprise, and institutional sectors [1][2][3] Partnership Details - The collaboration will allow Coinbase users to access PYUSD directly, facilitating fee-free purchases and 1:1 redemption for US dollars on Coinbase platforms [9] - PayPal's extensive user base of over 430 million accounts presents a significant opportunity for global stablecoin adoption [3] PYUSD Overview - PayPal USD is issued by Paxos Trust Company and is fully backed by U.S. dollar deposits and U.S. Treasuries, with a fixed exchange rate of $1.00 per PYUSD [5] Future Innovations - Both companies are committed to exploring new payment use cases and innovations to accelerate the adoption of stablecoin solutions, particularly in commerce [9] - There is a focus on exploring decentralized finance (DeFi) applications for PYUSD and onchain platforms [9]