Coinbase, the largest publicly traded cryptocurrency exchange, announced on April 24, 2025, that it is waiving fees on transactions connected to PayPal's stablecoin, PayPal USD (PYUSD). Additionally, Coinbase users can now redeem PYUSD directly for U.S. dollars on the platform.
This collaboration is a major milestone for PayPal, aiming to accelerate the adoption, distribution, and utilization of PYUSD. Coinbase and PayPal will also work together on 'stablecoin based solutions' for moving and managing money globally, particularly in commerce, and exploring potential use cases in decentralized finance.
The move significantly enhances PYUSD's accessibility and liquidity, making it more attractive for both consumers and institutional users. This partnership strengthens PayPal's strategic push into crypto payments and its competitive positioning in the stablecoin market.
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