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Stock impact report

Coinbase Introduces Free Conversion for PayPal's PYUSD as Stablecoin Competition Intensifies [Yahoo! Finance]

Coinbase Global, Inc. - Class A (COIN) 
US:NASDAQ Investor Relations: convertedorganic.com
Company Research Source: Yahoo! Finance
The move, open to both retail and institutional customers, is part of a partnership aimed at promoting PYUSD as a payment currency. Coinbase also plans to use its platform to offer PYUSD to PayPal's extensive network of merchant partners, which could ease the use of stablecoins in everyday transactions. Stablecoins — digital tokens pegged to traditional currencies, predominantly the dollar — are one of the fastest-growing sectors in crypto. They are marketed as a faster and cheaper alternative to legacy payment systems, and are increasingly popular for payments across borders. Standard Chartered projected the sector to grow to $2 trillion by 2028 from the current $220 billion. With regulation for stablecoins advancing in the U.S., the competition is heating up among issuers while banks and traditional payment firms are also eyeing the market. Binance, the largest crypto exchange, and Circle, issuer of the second largest dollar-backed stablecoin, have already linked up to use Circ Show less Read more
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