PayPal, Coinbase expand stablecoin crypto partnership to boost innovation
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PayPal Holdings Inc. and Coinbase Global Inc. have expanded their partnership to promote the adoption and utility of PayPal USD (PYUSD), a US dollar-backed stablecoin.
The announcement, made on Thursday, marks a strategic effort to integrate stablecoins into global payments and decentralized finance (DeFi) systems.
Under the renewed collaboration, Coinbase will support fee-free purchases of PYUSD and provide seamless 1:1 conversions to US dollars across its custody and trading platforms.
The companies also plan to explore new on-chain and DeFi use cases, reinforcing PYUSD's position as a key tool for digital commerce and institutional crypto adoption.
"For years, we've worked with Coinbase to enable a best-in-class integration," said PayPal CEO Alex Chriss. "We are excited to drive innovative use cases together, putting PYUSD at the center of future commerce experiences."
Coinbase CEO Brian Armstrong highlighted the scale of the opportunity, stating, "PayPal's more than 430 million users offer an unprecedented chance to grow global stablecoin adoption."
The partnership builds on a previous 2021 collaboration that enabled Coinbase users to fund crypto purchases using PayPal and withdraw fiat.
The renewed agreement now broadens the focus to institutional and consumer access, DeFi participation, and payments innovation using blockchain-based solutions.
PYUSD is issued by Paxos Trust Company and fully backed by US dollar reserves, treasuries, and cash equivalents. It is available on PayPal and Venmo platforms.
Both firms view the expanded partnership as a step toward a more efficient, global financial ecosystem powered by stable, regulated digital currencies.
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