PayPal is moving deeper into crypto commerce, announcing Monday that U.S. businesses can now accept more than 100 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), for everyday payments.
According to an official statement, the new “Pay with Crypto” feature instantly converts crypto payments into stablecoins or U.S. dollars, aiming to reduce volatility while preserving speed and convenience.
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It’s compatible with major wallets like Coinbase, MetaMask, Binance, and Kraken, bridging the gap between crypto users and mainstream commerce.
PayPal says the feature taps into a market of over 650 million crypto users and covers 90% of the nearly $4 trillion global crypto market, offering merchants lower fees (as low as 0.99%) and faster settlement compared to traditional credit card systems.
“Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations,” said Alex Chriss, PayPal’s president and CEO. “Today, we’re removing these barriers and helping every business of every size achieve their goals.”
Merchants adopting the service can benefit from reduced transaction fees, near–instant access to proceeds and the opportunity to earn 4% annual yield on funds held in PYUSD, PayPal’s USD‑pegged stablecoin.
The stablecoin launched in 2023 already boasts a market capitalization north of $900 million.
PayPal customers can also swap PYUSD for dollars to facilitate cross‑border transfers via Xoom.
This expansion follows PayPal’s announcement of “PayPal World,” a forthcoming global payments hub slated for fall, which will interconnect five of the world’s largest digital wallets on a single network.
Why This Matters
PayPal’s move could be a turning point for crypto adoption in retail commerce. With transaction fees up to 90% lower than credit card processors, the payments giant is turning digital assets into practical payment tools.
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People Also Ask:
PYUSD (PayPal USD) is PayPal’s U.S. dollar–pegged stablecoin designed to offer a stable digital currency for transactions and payments.
Fees vary based on transaction type, amount, and market conditions. PayPal also offers reduced fees when merchants use “Pay with Crypto.”
PayPal currently offers crypto payment acceptance to U.S. merchants, with plans to expand globally through initiatives like PayPal World.
PayPal employs advanced security protocols and encryption to protect crypto transactions, but users should also secure their private keys and wallets.
PayPal’s fees for crypto-to-fiat conversion are generally lower than traditional credit card fees, but specific rates vary.
