Coinbase announces partnership with PayPal to promote stablecoin payments

According to the official Coinbase blog, Coinbase announced a partnership with PayPal to jointly promote the widespread use of stablecoins. By providing PYUSD custody, distribution, and access services, Coinbase will continue to expand the future of payments. As part of this plan, Coinbase will provide zero transaction fee USD-PYUSD exchange services for retail and institutional customers. Coinbase aims to leverage its leading infrastructure platform to expand stablecoin support to PayPal's largest merchant partners, thereby driving wider adoption of faster and more efficient financial services. Coinbase will also collaborate with PayPal to explore new on chain use cases utilizing PYUSD.