🕊 PayPal and Coinbase 🇺🇸 expand partnership to work with stablecoins

🕊 PayPal and Coinbase 🇺🇸 expand partnership to work with stablecoins

The Coinbase platform will now support fee-free purchases and 1:1 conversions of PayPal USD. The integration includes plans for future expansion with additional features.

🟣 Coinbase and PayPal have been partners since 2021 and are now exploring new use cases for PYUSD in DeFi and blockchain technology, including international remittances.

🟣 PayPal has over 430 million accounts across consumers and merchants, which significantly expands the reach of this initiative.

🟣 Key info: PayPal USD is issued by Paxos Trust Company, a regulated trust licensed by the New York State Department of Financial Services. The reserves backing PayPal USD consist of USD deposits, U.S. Treasury bonds, and equivalent assets.

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