2025-04-24T15:46:36.237+02:00 T h u r s d a y , 2 4 / 0 4 / 2 0 2 5 | 1 3 : 4 6 G M T by Tareq Sikder The exchange plans to integrate PYUSD for PayPal’s major merchant partners. Stablecoin transaction volumes rose from $6.2T in 2023 to $22T in 2024. US-based crypto exchange Coinbase has formed a partnershipwith PayPal to support the use of PayPal’s stablecoin, PYUSD. The collaborationis aimed at increasing the adoption of stablecoins in digital payments. Meanwhile, Coinbase has submitted a filing to the CommodityFutures Trading Commission (CFTC) seeking approval to launch futures contractsfor the XRP token. According to the filing, the proposed product is a monthly,cash-settled, and margined contract, traded under the symbol XRL. Coinbase and PayPal Expand PYUSD Access Alex Chriss, President and CEO, PayPal, Source: LinkedIn “For years, we’ve worked with Coinbase to enable abest-in-class integration to provide a simple, familiar way for PayPal users tofund crypto purchases on Coinbase. Our objectives aligned further as wedeployed PYUSD in combination with our payments expertise enabling greatercommerce applications,” said Alex Chriss, President and CEO, PayPal. As part of the initiative, Coinbase will allow users toconvert between US dollars and PYUSD without paying any fees. This offerapplies to both retail and institutional customers. The company plans to useits infrastructure to support PYUSD for PayPal’s largest merchant partners. You may find it interesting at FinanceMagnates.com: CoinbaseGains FIU Approval for Indian Market Re-entry: SEC Drops Lawsuit. — Coinbase 🛡️ (@coinbase) April 24, 2025 Stablecoin Adoption Grows Brian Armstrong, CEO, Coinbase, Source: LinkedIn The two companies will also explore the use of PYUSD foronchain transactions. They said the goal is to expand stablecoin usage ineveryday payments and encourage more customers to use blockchain technology forfinancial activities. Coinbase pointed to a rise in stablecoin usage in recentyears. According to the company, global transaction volumes using stablecoinsgrew from $6.2 trillion in 2023 to $22 trillion in 2024. “We’re excited to be partnering with PayPal. Their morethan 430 million consumer and merchant accounts offer an unprecedentedopportunity to increase stablecoin adoption globally,” said BrianArmstrong, the CEO of Coinbase. US-based crypto exchange Coinbase has formed a partnershipwith PayPal to support the use of PayPal’s stablecoin, PYUSD. The collaborationis aimed at increasing the adoption of stablecoins in digital payments. Meanwhile, Coinbase has submitted a filing to the CommodityFutures Trading Commission (CFTC) seeking approval to launch futures contractsfor the XRP token. According to the filing, the proposed product is a monthly,cash-settled, and margined contract, traded under the symbol XRL. Coinbase and PayPal Expand PYUSD Access Alex Chriss, President and CEO, PayPal, Source: LinkedIn “For years, we’ve worked with Coinbase to enable abest-in-class integration to provide a simple, familiar way for PayPal users tofund crypto purchases on Coinbase. Our objectives aligned further as wedeployed PYUSD in combination with our payments expertise enabling greatercommerce applications,” said Alex Chriss, » …
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