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Leading U.S.-based cryptocurrency exchange COINBASE has announced a strategic partnership with global digital financial services leader PAYPAL to enhance the adoption and usability of cryptocurrencies. The collaboration focuses on PAYPAL‘s stablecoin, PYUSD, and introduces zero fees for COINBASE users when purchasing or converting PYUSD on the platform.
By eliminating fees, COINBASE aims to increase accessibility to PYUSD, fostering its integration into the broader cryptocurrency ecosystem. This initiative is part of a larger effort to demonstrate the practical benefits of blockchain technology in real-world applications, such as cross-border transactions and seamless online payments.
ALEX CHRISS, President and CEO of PAYPAL, stated, “For years, we’ve worked with COINBASE to enable a best-in-class integration, providing a simple and 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. 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.”
The partnership underscores a shared commitment to advancing the utility of digital currencies and exploring innovative payment solutions. By leveraging their respective strengths, COINBASE and PAYPAL aim to position PYUSD as a cornerstone of the evolving crypto landscape.
Source: PayPal Press Release
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