PayPal, Coinbase Scrap Fees on PYUSD Conversions in Expanded Stablecoin Partnership

PayPal Holdings Inc. and Coinbase Global Inc. said Thursday that they have deepened their collaboration to accelerate adoption of PayPal USD (PYUSD), the payments company’s dollar-pegged stablecoin. Under the expanded agreement, Coinbase will allow both retail and institutional customers to buy, sell and convert PYUSD at a one-to-one ratio with U.S. dollars without paying trading or custody fees across its exchange, prime brokerage and custody platforms. The partnership links PayPal’s 434 million active accounts with Coinbase’s regulated crypto infrastructure, giving users a low-cost way to move funds between traditional payments and blockchain networks. The companies said they plan to develop additional on-chain use cases for PYUSD, including merchant payments and decentralized-finance applications, as they seek to broaden stablecoin utility beyond trading. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant