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PayPal and Coinbase Join Forces to Eliminate PYUSD Fees and Drive Adoption

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  • Users can trade PYUSD on Coinbase without platform fees.
  • PYUSD holders can redeem stablecoin 1:1 for USD on Coinbase.
  • PayPal to offer 3.7% yield for PYUSD in PayPal and Venmo wallets.

PayPal and Coinbase have advanced their partnership to boost the adoption of their Ethereum based stablecoin, PayPal USD (PYUSD). The two firms announced that users can conduct PYUSD purchases, sales and trade via Coinbase without fees. Moreover, the exchange offers users a direct conversion of PYUSD 1:1 into USD. The partnership seeks to enhance crypto transactions and improve digital asset access for businesses and consumers.

The collaboration explores possible applications for PYUSD in decentralized finance (DeFi). PayPal and Coinbase aim to explore potential stablecoin applications on blockchain platforms This companies’ approach aims to increase PYUSD utility and increase its adoption in the crypto market.

Coinbase Zero-Fee Transactions and Paypal’s Vast Network

Coinbase will provide free conversions for PYUSD transactions which simplifies the purchase and sale of the stablecoin. This change provides users with simple access to the stablecoin market, whether individual or institutional investors. This initiative aims to boost the number of stablecoin users and the use of the tokens in their everyday financial transactions.

In addition, PYUSD will facilitate seamless payments across PayPal’s broad customer network. PayPal intends to provide merchants with PYUSD payments feature and eliminate traditional payment systems. The stablecoin will enable faster low-cost cross-border transactions to boost its commercial use.

The partnership supports Coinbase’s efforts to integrate cryptocurrency payments in all its operations. Coinbase CEO Brian Armstrong, stressed that Paypal’s 430 million account holders will be crucial in fueling the global adoption of the stablecoin. The collaboration between the two firms aims to ramp up digital currencies adoption in everyday transactions and payments. 

PYUSD Offers 3.7% Annual Yield 

Furthermore, PayPal has announced plans to offer a 3.7% annual yield to its users who hold PYUSD in PayPal and Venmo wallets from 2025. This move further shows PayPal’s dedication to enhance the use of its stablecoin. The yield offer seeks to attract more users to use and hold PYUSD as well as attract more long-term investors. 

The two firms seek to integrate PYUSD into DeFi platforms and payment systems, as Coinbase continues to grapple with legal challenges. The Oregon Department of Justice has launched a lawsuit against the exchange for providing unregistered securities, such as  XRP. The legal dispute could influence the exchange’s operations as it expands its stablecoin and crypto payment solutions.

PayPal Introduces 3.7% Return on PYUSD to Spark Massive Adoption

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  • PayPal will offer a 3.7% annual return on PYUSD, starting summer 2025, to boost native coin adoption among U.S. users, with daily and monthly payouts in the same coin.
  • PYUSD was launched in 2023; it’s backed by U.S. dollars and now runs on both Ethereum and Solana for efficient, faster, and cheaper use.

PayPal plans to offer a 3.7% annual return on its stablecoin, PYUSD, in a move to draw more users and gain solid ground in a market already led by stronger competitors. The goal is to engage users and drive wider adoption. The returns will be paid monthly in PYUSD.

According to a report covered by Bloomberg on April 23, PayPal plans to launch the new program this summer to boost the use of its native token, PYUSD. Basically, people in the U.S. who keep PYUSD in their PayPal or Venmo wallets will earn a 3.7% return, paid monthly in the same coin.

The ‘return’ will build up daily, and users can choose to either spend, send, convert, or use it for international transfers. PayPal’s blockchain leader, Jose Fernandez da Ponte, said that the reward is meant to make PYUSD a true payment option. He also mentioned that the company is only halfway through their long-term 10-year plan.

The Growth and Backing of Paypal Native Token

PayPal first released its native token, PYUSD, in 2023 through Paxos, making it the first major financial firm to launch stablecoin options. The coin is supported one-to-one by U.S. cash, Treasury bills, and other similar safe holdings, with all assets kept in accounts monitored by New York’s financial regulator.

Paxos, a licensed crypto company, handles all its issuing processes. PYUSD was first launched on Ethereum using the ERC-20 format, but later on, it expanded to Solana for faster and lower-cost transactions. It competes with other stablecoins linked to the U.S. dollar, such as USDC from Circle. By August 2024, the market cap of PYUSD had grown to about $1 billion, with a 24-hour trading volume of $33.21 million.

Screenshot 20250423 180950
PayPal Introduces 3.7% Return on PYUSD to Spark Massive Adoption 2

source: coinmarketcap.com

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PayPal’s PYUSD Coming to 20M+ Merchants by 2025

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  • PayPal’s PYUSD Targets 20M Merchants: Bill-pay integration by 2025 aims to slash cross-border fees and speed up vendor payments.
  • Stablecoin Surge: One billion gain bank-linked access; PYUSD hits $500M, while tests show 40% more in local currency.
  • “Sounds Familiar”: Ripple notes parallel efforts, as RLUSD defies market slump with a 37% volume increase.

PayPal is launching a full-scale mainstream adoption for its stablecoin, PYUSD, aiming to revolutionize merchant transactions. According to Bloomberg, the payment giant plans to integrate PYUSD into its bill-pay product by 2025, allowing its 20 million+ small-to-medium merchants to pay vendors seamlessly.

Michelle Gill, General Manager of PayPal’s Small Business and Financial Services Group, emphasized the focus on cross-border payments, stating, “We can facilitate that on PYUSD rails so as not to have the currency conversion, the friction, as well as time?”

PayPal
PayPal's PYUSD Coming to 20M+ Merchants by 2025 4

Furthermore, PayPal is preparing to incorporate PYUSD into Hyperwallet, enabling global payouts to contractors and freelancers by the first half of the year. By this year, merchants can also settle checkout transactions using cryptocurrencies. CEO Alex Chriss believes this will help make blockchain technology a practical reality for spending.

Recent tests demonstrated that using stablecoins for cross-border transactions resulted in recipients receiving 40% more in their local currency compared to traditional methods, due to faster settlement and better exchange rates.

Moreover, PayPal’s PYUSD, backed by highly liquid assets, has already surpassed a $500 million market cap, signaling strong adoption. Edwina Aoki, CTO of Digital Currencies at PayPal, highlights the potential of stablecoins to disrupt outdated payment systems like SWIFT.

Stablecoins Like PayPal’s PYUSD The “iPhone Moment” for Fintech?

Edward Woodford, Founder and CEO of Zero Hash, highlighted the rapid expansion of stablecoin accessibility: “Over the last 12 months, integrations by Nubank, Revolut, Robinhood, and PayPal have brought stablecoins to the core banking experience of close to one billion individuals.”

The top exec drew similarities between the iPhone’s distribution and the current reach of stablecoins like USDC and USDT. He explained that just as the iPhone’s widespread adoption enabled the creation of the App Store, the broad distribution of stablecoins is now fostering the development of new applications by fintech and payment companies.

Following PayPal’s stablecoin integration., Ripple President Monica Long commented, ” Sounds familiar”. This observation underscores Ripple’s own active involvement in the space, evidenced by the launch of RLUSD, which saw a 37% volume surge despite recent market downturns.

PayPal’s PYUSD Market Cap Holds Strong at $350M on Ethereum

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  • PayPal’s PYUSD now integrates LayerZero for seamless, fast, and cost-effective transfers between Ethereum and Solana, enhancing cross-chain functionality.
  • PYUSD’s market cap on Ethereum is stable at $350 million, while its supply on Solana has dropped by 71% since August.
  • LayerZero integration aims to reduce transaction costs and unify liquidity, aligning with PayPal’s goal to increase stablecoin utility and accessibility.

PayPal’s U.S.-dollar-pegged stablecoin, PYUSD, has taken a major step toward bridging blockchains. The stablecoin, launched to simplify digital payments, is now integrating with LayerZero to enable seamless transfers between Ethereum and Solana. This shift, announced Tuesday, signals PayPal’s continued focus on decentralized finance and blockchain interoperability.

LayerZero’s cross-chain messaging protocol allows digital assets to move smoothly between blockchains without liquidity issues. This integration is poised to simplify PYUSD transactions, making them faster and cheaper for both individuals and businesses.

This move tackles a critical challenge, liquidity fragmentation. Previously, transferring PYUSD between Ethereum and Solana meant dealing with split liquidity pools, higher costs, and potential delays. LayerZero’s protocol addresses this by unifying liquidity across chains, making the stablecoin more versatile. According to PayPal’s statement, this setup ensures secure and cost-effective transfers that enhance user convenience.

Jose Fernandez da Ponte, PayPal’s senior vice president of blockchain, expressed optimism about LayerZero’s impact on user experience: “We believe that PYUSD holders will welcome the flexibility and convenience offered by LayerZero.” With this integration, PayPal aims to simplify digital transactions for a wide range of users, from retail customers to businesses.

However, the PYUSD market cap on Ethereum has remained steady at around $350 million over recent months, according to The Block’s data dashboard. Meanwhile, the stablecoin’s supply on Solana saw a significant drop, plummeting from over $660 million in August to $186 million, per Dune Analytics. This decline in Solana’s stablecoin supply suggests potential shifts in demand or market preference, a trend worth monitoring as PayPal expands the stablecoin’s reach.

Boosting Utility for PYUSD Holders

The LayerZero integration aligns with PayPal’s broader vision for PYUSD, positioning the stablecoin as a bridge between different blockchain ecosystems. This could boost the stablecoin’s appeal, making it a more versatile option for users who frequently move assets between Ethereum and Solana. Faster, cheaper transfers mean more use cases for the stablecoin, whether in e-commerce or peer-to-peer payments.

For PayPal, this also represents a strategic leap toward embracing blockchain interoperability. By eliminating friction in asset transfers, PayPal is setting the stage for broader stablecoin adoption. As blockchain ecosystems grow, such integrations may become essential, potentially elevating PYUSD’s position in the stablecoin market.

Whether this move will boost PYUSD’s demand remains to be seen, but it’s clear that PayPal is intent on making the stablecoin accessible, practical, and resilient across the rapidly evolving crypto landscape.

Solana’s DeFi Landscape Expands as TVL Reaches $5.7B in Q3 2024

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Key Takeaways:

  • Solana’s DeFi TVL rose to $5.7 billion in Q3 2024, marking a 26% increase in QoQ.
  • Kamino led with $1.5 billion in TVL and a 57% QoQ growth, boosted by PYUSD and jupSOL additions.
  • Solana’s stablecoin market cap climbed by 23% to $3.8 billion, driven by PayPal’s PYUSD integration.

Solana’s decentralized finance (DeFi) ecosystem saw significant growth in Q3 2024, achieving a total value locked (TVL) of $5.7 billion. This represented a 26% QoQ increase, placing the network as the third-largest network in this metric, surpassing Tron.

According to a recent report by Messari, TVL in SOL rose by 20%, reaching 37 million. Kamino played a pivotal role, leading the way with $1.5 billion in TVL, a 57% rise over the quarter, thanks to new offerings like PYUSD and jupSOL.

image 1 1
Source: Messari

Kamino’s innovations in lending included the launch of Kamino Lend V2, which introduced a permissionless market layer and a vault layer. These changes, along with new products like Lending Orderbook and Spot Leverage, are expected to further bolster its market position in Q4.

DEXs and Perpetual Trading Growth

Although the trading volume of Solana’s DEXs did see a slight decline of 10% QoQ, the activities there started to rebound in late September. Its average daily volume coming from DEX has reached $1.7 billion, while most challenges are authored to waning memecoin hype.

Raydium still had the largest market share with 51%, although it witnessed its daily average volume slide 13% to $852 million. Its volumes added $350 million upon the launch of Moonshot, a user-friendly mobile app for trading.

image 1 2
Source: Messari

Jupiter remained at the top, with 43% of the total spot DEX volume. New developments included the release of Jupiter Mobile, allowing seamless onboarding through Apple Pay and Google Pay. SolanaFM and Coinhall contributed to the acquisition of the Jupiter ecosystem.

Solana’s Stablecoin Market Boosted by PayPal’s PYUSD

The stablecoin landscape of Solana grew 23% to a market capitalization of $3.8 billion. In May, PayPal’s PYUSD launched on Solana and thereby played an important role. With features such as transfer hooks, programmable transfers were an immediately adoptable feature, and adoption increased significantly.

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Source: Messari

By the end of Q3, PYUSD’s circulating market capitalization was $331 million, a 341% increase. Meanwhile, USDC continued to dominate and rounded off the high performance for Solana regarding stablecoins.

Circle’s expansion into Web3 services for Solana offers enterprise functionality features, including programmable wallets and fee sponsorships so that developers can integrate seamless, multichain solutions.

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Curve Considers Removing TUSD from crvUSD Collateral Amid SEC Scrutiny

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  • TruеCoin, TUSD’s issuеr, fаcеs SEC аllеgаtions of frаudulеnt аnd unrеgistеrеd sаlеs, rаising concеrns аbout its solvеncy аnd rеgulаtory compliаncе.
  • Curvе Finаncе’s crvUSD stаblеcoin is ovеrеxposеd to TUSD, а significаnt portion of its collаtеrаl bаcking, rаising concеrns following thе SEC chаrgеs.
  • Wormholе proposеs rеducing аnd еvеntuаlly еliminаting TUSD’s bаcking for crvUSD to mitigаtе rеgulаtory risks аnd potеntiаl solvеncy issuеs.

Curvе Finаncе, а prominеnt dеcеntrаlizеd еxchаngе (DEX) rеcognizеd for its еfficiеnt stаblеcoin trаding, is fаcing а possiblе disruption in thе collаtеrаl supporting its crvUSD stаblеcoin. Thе situаtion stеms from rеcеnt аctions tаkеn by thе U.S. Sеcuritiеs аnd Exchаngе Commission (SEC) аgаinst TruеUSD (TUSD), onе of thе аssеts usеd аs collаtеrаl for crеаting crvUSD.

On Sеptеmbеr 24th, thе SEC sеttlеd with TruеCoin, thе issuеr of TUSD, which rаisеd concеrns аbout thе stаbility of stаblеcoin. Thе SEC аllеgеd thаt TruеCoin аnd its pаrеnt compаny TrustTokеn wеrе involvеd in frаudulеnt аnd unаuthorizеd sаlеs of invеstmеnt contrаcts linkеd to TruеUSD.

Notаbly, thе rеgulаtor’s complаint clаims thаt TruеCoin fаlsеly rеprеsеntеd thаt TUSD wаs fully bаckеd by U.S. dollаrs or еquivаlеnt аssеts. Howеvеr, а substаntiаl pаrt (rеportеdly 99%) of its rеsеrvеs wаs invеstеd in а risky offshorе fund. This hаs spаrkеd doubts аbout thе coin’s truе vаluе.

Wormhole Proposes Zero TUSD Backing

This dеvеlopmеnt hаs rаisеd concеrns аmong mеmbеrs of thе Curvе community. On Sеptеmbеr 25th, а proposаl аppеаrеd on Curvе’s govеrnаncе forum from Wormholе, а cross-chаin mеssаging protocol, suggesting lowering the upper limit of crvUSD’s backing to zero to eliminate exposure to TUSD, addressing both regulatory risks and concerns regarding solvency.

Currеntly, thе PеgKееpеr systеm—thе mеchаnism mаnаging crvUSD’s liquidity pools—аllows usеrs to mint up to $10 million worth of crvUSD using TUSD. Wormholе’s proposаl proposеs еliminаting this option еntirеly.

Thе impаct of thе current situаtion еxtеnds bеyond just onе stаblеcoin. Thе proposаl аlso suggеsts lowеring thе crvUSD dеbt cеiling for PаyPаl’s stаblеcoin (PYUSD) from $15 million to $5 million. This chаngе highlights thе incrеаsеd PеgKееpеr cеiling to TVL (Totаl Vаluе Lockеd) rаtio for both PYUSD аnd TUSD, аs wеll аs thеir stаgnаnt TVL growth.

Curve Finance 1
Source: Curve.fi

Whilе crvUSD offеrs usеrs thе flеxibility to mint thе stаblеcoin using vаrious cryptocurrеnciеs аs collаtеrаl, thе currеnt composition rаisеs concеrns аbout divеrsificаtion. Wrаppеd Bitcoin (WBTC) currеntly holds thе dominаnt position, аccounting for ovеr $68 million in TVL, followеd by Lido Finаncе’s wstETH (liquid stаking dеrivаtivе) аt аround $60 million.

Thе proposаl highlights this lаck of divеrsificаtion, stаting, “crvUSD is ovеrеxposеd to minor stаblеcoins, еspеciаlly TUSD which hаs а dubious trаck rеcord аnd hаs rеcеntly bееn chаrgеd by thе SEC with dеfrаuding invеstors.” It еmphаsizеs thе nееd for а morе robust аnd divеrsе sеt of PеgKееpеrs but аcknowlеdgеs thаt this is а sеpаrаtе discussion.

Thе community votе on thе proposаl will dеtеrminе crvUSD’s futurе composition. A dеcisivе movе аwаy from TruеUSD could solidify Curvе’s commitmеnt to usеr trust аnd rеgulаtory compliаncе. Howеvеr, it аlso nеcеssitаtеs а rеаssеssmеnt of thе idеаl bаlаncе bеtwееn stаblеcoin divеrsity аnd individuаl collаtеrаl risk profilеs within thе PеgKееpеr systеm. Curvе fаcеs а cruciаl dеcision thаt will impаct thе stаbility аnd risk profilе of its flаgship stаblеcoin, crvUSD.

Related Readings | PayPal Expands Crypto Features for U.S. Businesses, Introduces On-Chain Transfers

PayPal’s Stablecoin Claims Top-Tier Spot With Over 5x Market Cap Growth

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PayPal’s stablecoin PYUSD has witnessed a staggering increase in market capitalization, now exceeding $290 million. The Block’s price page indicates that the market cap has surged over five-fold from its initial value.

At the end of August, PYUSD’s total supply stood at 43.3 million, with Paxos holding 90% of the supply in custody, highlighting a concentrated distribution. However, recent data shows that PYUSD has made significant strides, particularly in the past month, with a 70% increase in market cap, reaching $293 million, positioning PayPal among the top ten stablecoin issuers.

chart 1
CoinGecko

Leading the stablecoin niche is Tether USD, boasting a market capitalization of over $94 billion. PayPal’s PYUSD has found adoption on centralized exchanges such as Crypto.com and Kraken, along with integration into decentralized finance (DeFi) protocols, contributing to its notable growth.

A noteworthy shift in PYUSD’s distribution is evident, with Crypto.com now holding the largest portion, representing 38.7% of the total supply. Other major holders include DeFiance Capital, Curve, Kraken, and Paxos, according to on-chain data provided by Nansen.

PayPal’s PYUSD Liquidity Pool On Curve Hits $135M

The stablecoin has also found its way into DeFi protocols, with a new liquidity pool called FRAXPYUSD on Curve, locking a total value of $135 million since its December 27 launch. This pool, currently the third-largest on Curve, comprises PYUSD from Paxos and Frax Finance’s collateralized algorithmic stablecoin, FRAX.

The imbalance in liquidity, with FRAX accounting for over 80%, hasn’t deterred the pool’s success, seeing an average daily trading volume of $5.5 million. The community of decentralized lending protocol Aave is considering integrating PYUSD, with an ongoing governance vote showing overwhelming support, as 99.98% of participating AAVE token holders favor the move. This follows Curve’s decision in December to host PYUSD, further solidifying the stablecoin’s presence in the DeFi space.

However, with PYUSD’s growing market capitalization, increased adoption on various platforms, and integration into DeFi protocols, PayPal’s stablecoin is making significant strides in the evolving landscape of digital assets.

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Crypto.com, PayPal, & Paxos Join Forces For PYUSD Market Domination

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Crypto.com has made a strategic move by forging an alliance with fintech behemoths PayPal and Paxos to position itself as the preferred PayPal USD [PYUSD] exchange. This partnership entails listing PYUSD on the Crypto.com platform, catering to both retail and institutional users. Currently, the Singapore-based digital exchange boasts the deepest liquidity for PYUSD trading pairs on a global scale.

For the uninitiated, deep liquidity refers to a market that has a high volume of trades and a large number of participants, including banks, financial institutions, and retail traders.

Joe Anzures, Senior Vice President and General Manager for the Americas and Global Head of Payment Partnerships at the trading firm, expressed his enthusiasm for this collaboration, stating, “PayPal has been a true pioneer in the digital commerce evolution, and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to team up with them to collectively advance the crypto frontier.”

Crypto.com
Crypto.com, PayPal, & Paxos Join Forces For PYUSD Market Domination 11

The integration between the two entities doesn’t stop here; it extends to various aspects, including the ability to use PayPal to top up the Crypto.com Visa Card. In accordance with the blog post, this collaboration aims to explore more connected top-up and commerce capabilities in the future, providing a seamless experience for users.

PYUSD is backed by 100% U.S. dollar deposits, short-term U.S. Treasury bonds, and cash equivalents, maintaining a 1:1 redeemable value with U.S. dollars. Paxos Trust Company is responsible for issuing PYUSD. Retail users can already access PYUSD deposits through the Crypto.com app, with additional trading features soon to follow.

Crypto.com Making Waves In Spain

Despite the ongoing global regulatory scrutiny surrounding cryptocurrencies, the virtual asset industry continued to expand its horizons. Crypto.com exemplifies this growth-oriented mindset by targeting new markets. In a recent update, the exchange shared that it had successfully obtained a Virtual Asset Service Provider [VASP] registration from the Bank of Spain. This regulatory milestone paves the way for Crypto.com to operate within Spain, marking its entry into the Spanish cryptocurrency market.

The collaboration between Crypto.com, PayPal, and Paxos signifies a significant advancement in the cryptocurrency sector, while Crypto.com’s expansion into Europe’s leading market underlines its commitment to driving innovation and accessibility in the world of digital assets.

PYUSD (PayPal USD) Ignites A Thrilling Debut On KuCoin Exchange

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KuCoin, one of the­ world’s leading cryptocurrency exchange­s, recently announced its support for PYUSD stable­coin by PayPal on its platform. This marks a significant milestone for the innovative­ stablecoin, which aims to bridge the gap be­tween traditional finance and cryptocurre­ncy. 

PYUSD is a digital token securely pe­gged to the US dollar and backed by PayPal’s re­serves. In August 2023, PayPal introduced this stablecoin to provide­ its customers with more options and flexibility in the­ crypto space. With this stablecoin, users can e­asily engage in buying, selling, transfe­rring, and receiving cryptocurrencie­s across various platforms that accept it. 

It’s important to note that KuCoin isn’t the sole­ platform embracing the stablecoin; other prominent e­xchanges like Crypto.com, Bitstamp, and Coinbase have­ also listed it. Additionally, Venmo—a popular pee­r-to-peer payments app owne­d by PayPal—has integrated this coin into its service­s. Certain Venmo users now have­ direct access to this stablecoin through their app. 

PYUSD Faces Challenges And Criticism

Despite­ the increasing adoption of PYUSD, the stable­coin continues to face challenge­s and criticism from both traditional and crypto sectors. A report by Bank of America sugge­sts that PYUSD may not experience­ widespread acceptance­ in the near future due­ to its limited usability and benefits compare­d to other payment methods. 

Furthe­rmore, the report pre­dicts that PYUSD will encounter eve­n more obstacles in the long run with the­ rise of central bank digital currencie­s (CBDCs) and yield-bearing stablecoins, which offe­r greater advantages and fe­atures than this stablecoin. In addition, regulatory hurdles could pose­ a problem for this stablecoin if non-banks are prohibited from issuing stable­coins. 

Moreover, certain me­mbers within the cryptocurrency community have­ expressed doubts re­garding this stablecoin centralized nature and pote­ntial vulnerabilities. They argue­ that PayPal or other authorities could manipulate or ce­nsor transactions since they claim that PYUSD lacks true de­centralization or transparency.

While KuCoin’s decision to list PYUSD is undoubte­dly a positive developme­nt for this stablecoin, its ability to overcome the­se challenges and criticisms re­mains uncertain. The ultimate goal of achie­ving widespread adoption and acceptance­ within the crypto space is yet to be­ seen.

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Coinbase Embraces New PayPal Stablecoin PYUSD with Ethereum Integration

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In a move that signals further convergence between the worlds of cryptocurrency and digital payments, prominent cryptocurrency exchange Coinbase has announced its plans to incorporate support for the recently unveiled PayPal stablecoin, PYUSD. This strategic step is poised to facilitate seamless transactions and increase accessibility to the burgeoning PayPal stablecoin.

Exchanges like Huobi, Kraken, and Crypto.com have listed it, but its uptake is gradual. There are around 43 million PYUSD tokens in circulation. A recent report by Nansen highlights low demand from crypto users, possibly due to PayPal’s focus on a distinct user group.

Coinbase Welcomes PYUSD Integration

Coinbase took to Twitter to share the news through a thread of tweets, unveiling their intentions to integrate PYUSD onto the Ethereum network as an ERC-20 token. The exchange also issued a word of caution, advising users to avoid sending this asset over networks other than Ethereum to avert the risk of fund loss.

As the anticipation builds, the exchange users within regions where trading is supported can anticipate being able to initiate transfers involving the PayPal USD (PYUSD) stablecoin through both the official Coinbase platform and Coinbase Exchange. Trading activities for PYUSD are scheduled to kick off at 9 AM PT on the 31st of August, provided that requisite liquidity conditions are met.

Initial trading will focus on establishing a substantial supply of the PYUSD stablecoin. Subsequent trading stages will witness the rollout of PYUSD-USD trading pairs. It is important to note that regulatory considerations might result in certain jurisdictions having restricted access to PYUSD support.

For those interested in the technical particulars, the Ethereum network’s ERC-20 contract address for the PayPal USD (PYUSD) stablecoin is 0x6c3ea9036406852006290770bedfcaba0e23a0e8. Regarding trading specifics, the PYUSD-USD pairs will be featured on both the Coinbase Exchange and Advanced Trade platforms, with transaction fee structures at 0 basis points (bps) for makers and 0.1 bps for takers.

It is worth highlighting that Coinbase’s integration of PYUSD will carry an “Experimental” label, indicating the platform’s cautious approach as it delves into this new avenue. This deliberate approach underscores Coinbase’s commitment to maintaining the security and integrity of its offerings.

However, Coinbase’s decision to incorporate the PYUSD stablecoin demonstrates a willingness to embrace innovation and diversify its portfolio. The move is poised to not only enhance the exchange’s offerings but also offer users greater flexibility and convenience in their financial transactions.

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