Here's How the Coinbase-PayPal Stablecoin Deal Could Rock Crypto
Stablecoin growth translates to increased mainstream crypto adoption.
Coinbase (NASDAQ: COIN) and PayPal (NASDAQ: PYPL) have teamed up to make the payment giant's stablecoin, PayPal USD (CRYPTO: PYUSD), easier to buy and use. Coinbase is one of the leading U.S. crypto exchanges, and PayPal is a major player in e-commerce and online payments.
Stablecoins are cryptocurrencies that are pegged to real-world assets such as the U.S. dollar. As such, they offer a blockchain-based payment method that doesn't suffer from crypto's usual volatility. There's fierce competition for market share among the various stablecoins, and PayPal's Coinbase deal could give it a serious leg up.
Let's look at why the deal matters and how increased stablecoin usage is good for the wider crypto ecosystem.
