Coinbase has announced a major expansion of its partnership with PayPal, focusing on the use of PayPal USD (PYUSD) as a stablecoin for commerce and transactions. The collaboration aims to boost PYUSD’s utility and accessibility across various platforms. 1:1 PYUSD-USD conversions will be supported by Coinbase’s custody and trading platforms, while new on-chain use cases are being explored. This move is part of their efforts to make stablecoins a core component of commerce at scale. In light of this announcement, PayPal CEO Alex Chriss expressed his enthusiasm for the collaboration, stating that it will create more seamless ways for Coinbase users to access PYUSD and collaborate on new use cases. The partnership builds upon existing work that allows users to leverage their PayPal accounts for purchases and fiat currency withdrawals on Coinbase. This latest development signifies a significant step towards mainstream adoption of stablecoins in the financial world.