Coinbase Global, Inc. COIN shares are trading higher on Thursday.

Coinbase has announced an expanded partnership with PayPal Holdings PYPL, which aims to increase the adoption and utility of PayPal’s U.S. dollar-backed stablecoin PYUSD/USD.

The development follows comments from Coinbase’s Head of Strategy, John D’Agostino, who noted that Bitcoin has secured its place alongside gold as a strategic asset for preserving capital during times of financial uncertainty.

Also Read: Coinbase Global Goes From Boom To Bust Amid Crypto Winter, Analyst Trims Q1 Estimates

The latest move is designed to give millions of Coinbase users direct access to the stablecoin while enhancing…

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