Paypal, EY and Google Cloud use Coinbase for B2B payments

Stablecoins settle instantly, including across borders, making B2B payments and treasury management faster, less expensive, and more efficient. 

Top brands have taken note of these benefits. Today, PayPal announced that it has successfully paid EY invoices using PayPal USD (PYUSD) deposited into EY’s Coinbase Prime account. Using SAP’s Digital Currency Hub, payments were executed from PayPal’s core SAP ERP for seamless execution.

With this success, EY joins Google Cloud and others in using Coinbase Prime to accept and custody crypto payments.  

“An increasing number of Fortune 500 companies are approaching Coinbase to explore crypto payments. Many are quickly moving from proof-of-concept exploration to full adoption. Stablecoins settle instantly, are borderless, and can offer rewards to holders, improving workflows for companies and their vendors alike. Coinbase is proud to provide the technology making these transactions possible and to be trusted by brands like PayPal, Google Cloud, EY, and many others.” - Steven Capozza, Director of Institutional Sales at Coinbase. 

“B2B payments is ripe for innovation - and digital currencies can provide incredible value in these use cases. Requiring terms like ‘net-30’ for invoice payments can restrict cash flow and negatively impact business operations. With digital currencies like stablecoins, payments can be made 24/7, funds transferred near instantly and settled in near real time - enabling businesses to put their money to work faster.” - Steve Everett, Director of Market Development, PayPal

“As capital markets move towards 24/7 availability, the demand for instant, always-on digital payments is becoming more important for businesses of all sizes,” said Richard Widmann, Head of Web3 Strategy, Google Cloud. “Google Cloud is committed to providing our customers with greater payment flexibility, and our partnership with Coinbase enables us to explore and offer innovative payment solutions, such as stablecoins, to meet our customers' evolving needs."

This highlights just one example of scaled, enterprise-grade crypto payments utility. Coinbase is on a mission to update the financial system. With a 12-year track record of safely custodying crypto assets, we look forward to continuing our work with PayPal, Google Cloud, EY and others to bring crypto transformation to all sectors.