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Payments giant PayPal has just unveiled a ‘Pay with Crypto’ feature with 100+ coins, set to be rolled out to US merchants in the coming weeks.
PayPal Launches New Crypto Payments Service
In a major step toward mainstream cryptocurrency adoption, American payments processor giant PayPal has launched a digital asset payments feature, according to a press release.
“Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations,” said Alex Chriss, PayPal President and CEO. “Today, we’re removing these barriers and helping every business of every size achieve their goals.”
The service, titled Pay with Crypto, enables users to connect their wallets like Coinbase or Metamask to PayPal to make transactions in more than 100 cryptocurrencies.
According to a Fortune report, the list of supported coins includes more than just the mainstay options like Bitcoin and Ethereum, as memecoins like TRUMP or FARTCOIN are also in.
When a customer makes a payment in one of the supported currencies, PayPal first sells the asset via a centralized exchange like Coinbase or a decentralized platform like Uniswap. The funds are then converted to the company’s own stablecoin, PYUSD, before being settled into US Dollars and sent to the merchant.
For the first year, PayPal is set to offer a transaction fee of 0.99%. This rate “decreases the cost of transactions by up to 90% when compared to international credit card processing,” as per the press release. After the first year, the rate will be pushed up to 1.5%, according to Fortune.
“By enabling seamless cross-border crypto payments, we’re breaking long-standing barriers in global commerce,” added the PayPal CEO. “These innovations don’t just simplify payments—they drive merchant growth, expand consumer choice, and reduce costs.”
The move is just the latest in PayPal’s push toward digital assets. Last year, the company enabled US businesses to buy, hold, and sell cryptocurrencies directly from their business accounts.
The firm’s Pay with Crypto is set to be available to merchants in the US in the coming weeks. The company plans to expand the service, but so far, no timeline is known.
Bitcoin Price
At the time of writing, Bitcoin is trading around $118,600, unchanged from one week ago.
The trend in the price of the crypto over the past five days | Source: BTCUSDT on TradingView
Featured image from Marques Thomas on Unsplash.com, chart from TradingView.com
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