Coinbase waives fees on PayPal’s stablecoin in crypto payments push
By Hannah Lang
(Reuters) -Coinbase, the largest publicly traded cryptocurrency exchange, is waiving fees on transactions connected to PayPal’s stablecoin and allowing its users to redeem the token directly for U.S. dollars, a major milestone for PayPal as the company doubles down on crypto payments.
The move is part of a joint effort by Coinbase and PayPal to increase the adoption of PayPal’s stablecoin, called PYUSD, which it launched in 2023. PayPal says the integration with Coinbase will allow merchants on its network to settle directly in PYUSD instead of traditional financial rails.
Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are commonly used by crypto traders to…
