Coinbase and PayPal announced a partnership on April 24, 2025, to boost the adoption of PayPal’s stablecoin, PYUSD, by offering fee-free purchases and 1:1 USD redemption on Coinbase platforms, aiming to make crypto payments more accessible to PayPal’s 430 million users.
The collaboration explores new onchain use cases for PYUSD, such as DeFi applications, signaling a shift as traditional financial giants like PayPal embrace permissionless financial protocols despite regulatory challenges.
PYUSD, backed by US dollar deposits and treasuries, operates on Ethereum and Solana blockchains, enhancing its utility for peer-to-peer payments and purchases within PayPal’s ecosystem, as part of a broader trend of stablecoin adoption in digital finance.
