1. PayPal expands partnership with Coinbase to enhance PayPal USD adoption. 2. Stablecoin integration allows Coinbase users easy access to PayPal USD. 3. Partnership builds on previous integrations, increasing utility for institutions. 4. PayPal USD is fully backed by U.S. dollar reserves and cash equivalents. 5. Coinbase's user base presents significant stablecoin adoption opportunities.
The expansion with Coinbase enhances PayPal USD utility, potentially increasing user base. Historical expansions of payment partnerships often correlate with stock price gains for tech companies.
The article discusses a significant partnership likely to drive PayPal USD's adoption and usage, influencing PYPL's market position.
Stablecoin adoption could drive long-term revenue growth, as evidenced by other cryptocurrencies gaining traction over time. The ongoing integration may lead to sustained user engagement and higher transaction volumes.
SAN JOSE, Calif., April 24, 2025 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) and Coinbase Global, Inc. (NASDAQ: COIN) today announced an expansion of their partnership to increase the adoption, distribution, and utilization of the PayPal USD (PYUSD) stablecoin. This collaboration will provide value for consumers, enterprises, and institutions as they continue to utilize digital currencies across platforms and borders with the stability of regulated USD-denominated crypto-native assets.
"For years, we've worked with Coinbase to enable a best-in-class integration to provide a simple, familiar way for PayPal users to fund crypto purchases on Coinbase. Our objectives aligned further as we deployed PYUSD in combination with our payments expertise enabling greater commerce applications," said Alex Chriss, President and CEO, PayPal. "We are excited to drive new, exciting, and innovative use cases together with Coinbase and the entire cryptocurrency community, putting PYUSD at the center and driving further utility and adoption for digital currencies among developers, customers, and other users."
This partnership will give Coinbase's millions of customers direct access to PYUSD while also enabling the thousands of institutions already using crypto increased utility with PYUSD. Additional details include:
"We're excited to be partnering with PayPal. Their more than 430 million consumer and merchant accounts offer an unprecedented opportunity to increase stablecoin adoption globally," said Brian Armstrong, CEO, Coinbase.
This agreement expands on the previous work between the two companies announced in 2021, enabling Coinbase users to use their PayPal accounts for immediate and direct funding of purchases on Coinbase and making withdrawals of fiat currency from Coinbase.
For more information about PYUSD, visit www.paypal.com/pyusd.
PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company. Paxos is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD.
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.
PayPal, Inc. (NMLS ID #: 910457) is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services.
Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We're updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.
Contact: Media Relations, [email protected]
SOURCE PayPal Holdings, Inc.