Coinbase and PayPal are deepening their partnership and are currently offering zero-fee on-ramp and off-ramp to PYUSD in the largest US-based exchange in the US.
PayPal is doubling crypto payments through the drive of strategic partnerships. On Thursday, April 24th, Coinbase partnered with PayPal to provide PYUSD (PYUSD) Stablecoin zero-fee-on and off-lamps in exchange.
PayPal explained that the partnership will allow merchants to resolve their debts directly on PYUSD, without relying on traditional payment networks. Pyusd’s reconciliation is also instantaneous. This is one of the main reasons PayPal pursued this direction. At the same time, Coinbase will allow PayPal to access a large user base.
“This combination of connecting Paypal and Coinbase consumer bases, bringing merchants to the table and institutional access (Coinbase) can be brought to the table.
PayPal considers expanding to DEXS
PayPal and Coinbase are planning further partnerships aimed at making Stablecoins and Digital Payments mainstream. At the same time, PayPal is investigating its expansion into decentralized exchanges. This allows users to use PYUSD for payment without an intermediary.
“This is a partnership that advances the future of global payments, brings stubcoin to mainstream and pushes this technology,” said Lauren Avendish, global head of institutional sales at Coinbase.
In 2024, Coinbase began offering replacement Zero Fee on-ramp and off-ramp for Circle’s USDC Stablecoin. They explained that it is to grow the crypto industry by making it more attractive and accessible to new users.
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PYUSD remains a relatively small player in the Stablecoin market, with Stablecoin’s total market capitalization of $236 billion. PayPal’s Stablecoin has a market capitalization of just $866 million, but that figure has more than doubled since April last year.
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