- PayPal enables U.S. merchants to accept over 100 cryptocurrencies, boosting crypto payment adoption.
- Service aims to reduce merchant fees and enhance global payment efficiency.
- Affects major cryptos like Bitcoin, Ethereum, and stablecoins.
PayPal has launched a service enabling U.S. merchants to accept payments in over 100 cryptocurrencies, marking a significant move in digital asset integration.
This move signifies broader crypto adoption in payment systems, potentially reshaping transaction dynamics and offering merchants reduced fees.
PayPal has introduced a new service for U.S. merchants to accept payments in over 100 cryptocurrencies, including Bitcoin, Ethereum, and stablecoins. This expansion integrates crypto payments into PayPal’s merchant backend, enhancing payment flexibility and functionality.
The initiative, led by PayPal CEO Alex Chriss, builds on the company’s 25 years in payment processing. Merchants can link wallets, process tokens, and convert them to PayPal USD for quick settlement.
Merchants adopting this service will benefit from introductory transaction fees of 0.99% until 2026, rising to 1.5% later. This rate is significantly lower than typical U.S. credit card fees, potentially encouraging broader merchant and consumer adoption.
PayPal’s integration also promises to reduce friction and transaction costs in international payments, citing up to 90% lower service fees compared to traditional options, thereby enhancing market reach.
Expected financial implications include increased transaction volumes and adoption of supported cryptocurrencies. Industry observers predict a growth in stablecoin and blue-chip asset utility given such developments.
The historical trend shows that similar fintech integrations, like those by Shopify and Stripe, temporarily increased merchant adoption. This move by PayPal may foster sustained interest, potentially influencing liquidity on major decentralized exchanges.
“Building on our 25+ years in payments, we let users link their wallet, pay with any token, convert it instantly to PYUSD, and deliver USD to merchants in seconds. The result? Merchants pay less in fees and can instantly use funds.” — Alex Chriss, President & CEO, PayPal
