Coinbase platforms to supply fee-free purchases and straightforward 1:1 redemption of PayPal USD whereas firms collectively discover new cost use circumstances
SAN JOSE, Calif., April 24, 2025 /PRNewswire/ — PayPal Holdings, Inc. (NASDAQ: PYPL) and Coinbase World, Inc. (NASDAQ: COIN) at present introduced an enlargement of their partnership to extend the adoption, distribution, and utilization of the PayPal USD (PYUSD) stablecoin. This collaboration will present worth for customers, enterprises, and establishments as they proceed to make the most of digital currencies throughout platforms and borders with the soundness of regulated USD-denominated crypto-native property.
“For years, we’ve labored with Coinbase to allow a best-in-class integration to supply a easy, acquainted means for PayPal customers to fund crypto purchases on Coinbase. Our goals aligned additional as we deployed PYUSD together with our funds experience enabling better commerce functions,” stated Alex Chriss, President and CEO, PayPal. “We’re excited to drive new, thrilling, and progressive use circumstances along with Coinbase and the complete cryptocurrency neighborhood, placing PYUSD on the middle and driving additional utility and adoption for digital currencies amongst builders, clients, and different customers.”
This partnership will give Coinbase‘s hundreds of thousands of shoppers direct entry to PYUSD whereas additionally enabling the hundreds of establishments already utilizing crypto elevated utility with PYUSD. Extra particulars embody:
- 1:1 PYUSD to USD conversions– Coinbase customers will now have the ability to purchase, promote, commerce PYUSD with no platform charges, whereas additionally having the ability to redeem PYUSD 1:1 for US {dollars} instantly on Coinbase platforms.
- Funds associated actions – The 2 firms are dedicated to collaborating on a range of improvements that can assist speed up the adoption and utility of stablecoin based mostly options for the needs of transferring or managing cash world wide, notably in commerce.
- DeFi exploration – Coinbase and PayPal comply with discover new use circumstances for PYUSD in DeFi and onchain platforms.
“We’re excited to be partnering with PayPal. Their greater than 430 million client and service provider accounts provide an unprecedented alternative to extend stablecoin adoption globally,” stated Brian Armstrong, CEO, Coinbase.
This settlement expands on the earlier work between the 2 firms introduced in 2021, enabling Coinbase customers to make use of their PayPal accounts for speedy and direct funding of purchases on Coinbase and making withdrawals of fiat foreign money from Coinbase.
For extra details about PYUSD, go to www.paypal.com/pyusd.
About PayPal USD (PYUSD)
PayPal USD is issued by Paxos Belief Firm, a totally chartered restricted objective belief firm. Paxos is licensed to have interaction in Digital Forex Enterprise Exercise by the New York State Division of Monetary Companies. Reserves for PayPal USD are totally backed by U.S. greenback deposits, U.S. Treasuries and related money equivalents, and PayPal USD might be purchased or bought via PayPal and Venmo at a charge of $1.00 per PayPal USD.
About PayPal:
PayPal has been revolutionizing commerce globally for greater than 25 years. Creating progressive experiences that make transferring cash, promoting, and buying easy, customized, and safe, PayPal empowers customers and companies in roughly 200 markets to hitch and thrive within the world financial system. For extra data, go to https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.
PayPal, Inc. (NMLS ID #: 910457) is licensed to have interaction in Digital Forex Enterprise Exercise by the New York State Division of Monetary Companies.
About Coinbase
Crypto creates financial freedom by making certain that individuals can take part pretty within the financial system, and Coinbase (NASDAQ: COIN) is on a mission to extend financial freedom for greater than 1 billion folks. We’re updating the century-old monetary system by offering a trusted platform that makes it simple for folks and establishments to have interaction with crypto property, together with buying and selling, staking, safekeeping, spending, and quick, free world transfers. We additionally present essential infrastructure for onchain exercise and assist builders who share our imaginative and prescient that onchain is the brand new on-line. And along with the crypto neighborhood, we advocate for accountable guidelines to make the advantages of crypto obtainable world wide.
Contact: Media Relations, mediarelations@paypal.com
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SOURCE PayPal Holdings, Inc.
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