The new feature supports over 100 cryptocurrencies to help facilitate crypto use
PayPal has launched a new cryptocurrency payment tool designed to help US merchants easily accept digital currencies, particularly for international transactions. The feature allows businesses to take payments in over 100 cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, USD Coin, and Tether. It also supports integration with popular wallets such as Coinbase Wallet, MetaMask, OKX, Binance, Kraken, Phantom, and Exodus.
To protect merchants from crypto market fluctuations, any payments made in digital currency will automatically convert to PayPal’s stablecoin PYUSD or US dollars at checkout. This offers a way for merchants to receive crypto-based payments without having to manage the risks associated with volatile prices.”
The company is positioning this tool as a solution for small and medium-sized businesses that often struggle with the cost and complexity of cross-border transactions. PayPal will charge a 0.99% transaction fee for crypto payments—considerably lower than the 1.75% or more that credit card processors like Visa typically charge.
At this stage, the service is limited to US-based merchants, excluding those in New York due to local regulatory restrictions.
This launch reflects a broader effort by fintech companies to streamline global crypto payments. PayPal’s move comes as its stablecoin PYUSD has seen a surge in circulation, growing from $497 million at the start of the year to nearly $900 million.
The rollout also puts PayPal in direct competition with platforms like Stripe and Coinbase, both of which have introduced their own crypto-focused payment features. Stripe, for instance, launched support for USDC payments in 70 countries and partnered with Coinbase in June to improve fiat-to-crypto transactions.
PayPal’s announcement comes after the recent passage of the GENIUS Act, federal legislation that lays out clearer rules for stablecoins. With regulatory uncertainty easing, more businesses are expected to explore crypto payments in everyday commerce.
