Crypto Exchange Coinbase (Coin) said that he will introduce free conversions between Stablecoin, Pyusd and the US currency in a PayPal movement, with the aim of accelerating change towards payments in the chain.
The movement, open to retail and institutional clients, is part of a company aimed at promoting Pyusd as payment currency. Coinbase also plans to use its platform to offer Pyusd to the extensive network of commercial partners of PayPal, which could relieve the use of stables in everyday transactions.
Stablecoin’s rivalry is heated
Stablecoins: digital tokens linked to traditional currencies, predominantly the dollar) are one of the fastest growing sectors in cryptography. They are marketed as a faster and more cheap alternative to inherited payment systems, and are increasingly popular for payments through borders. Standard Chartered projected that the sector grew to $ 2 billion by 2028 of the current $ 220 billion.
With the regulation of stablcoins that advance in the US, the competition is warming among the issues, while traditional banks and payment companies are also looking at the market. Binance, the largest cryptographic exchange and circle, issuer of the second stablcoin backed by the larger dollar, have already been linked to use the circle USDC as a pair of negotiation and a payment method. Circle introduced a network of remittances this week.
The leader of the Tether market, issuer of the $ 140 billion of USDT, is reflecting to broadcast a stable designed for US users.
Meanwhile, PayPal, whose Stablcoin debuted in 2023 and has grown to $ 860 million, recently introduced an annual 3.7% yield in Pyusd so that US tokenses holders. UU. They attract more users.
