Coinbase Waives USD-PYUSD Fees to Advance Partnership with PayPal
Coinbase announced a partnership with PayPal to enhance stablecoin transactions. Key points include:
- Coinbase will waive fees on USD-PYUSD conversions.
- The initiative aims to support PayPal's largest merchant partners and promote broader adoption of financial services.
- Coinbase previously acquired an equity stake in Circle and reported $910 million in stablecoin revenue for 2024, a 31% increase from the previous year.
- Free USDC transfers are available on Coinbase’s layer-2 network, Base.
- Stablecoins currently have a market cap of approximately $230 billion.
- Future collaborations with PayPal aim to integrate stablecoins into decentralized financial applications on blockchain networks, contingent on regulatory conditions.