PayPal is launching a new “Pay with Crypto” feature for U.S. merchants, enabling them to accept payments in over 100 different cryptocurrencies, including Bitcoin, Ethereum, Solana, BNB, XRP, various stablecoins, and even memecoins. This service, set to roll out in the coming weeks, aims to streamline cross-border commerce and significantly reduce transaction costs.
The initiative covers approximately 90% of the global crypto market cap and integrates with major digital wallets such as Coinbase, Binance, and MetaMask. Merchants will face a 0.99% transaction fee for the first year, rising to 1.5% thereafter, which remains below the average U.S. credit card fee and promises up to 90% savings on international card processing.
When a customer pays with crypto, PayPal will convert it first into its stablecoin, PYUSD, and then into U.S. dollars for the merchant.
According to CEO Alex Chriss, this move leverages PayPal’s access to over 650 million crypto users worldwide, addressing billions lost annually in cross-border fees.
He emphasized that the feature offers near-instant access to funds, allows businesses to earn a 4% yield on PYUSD held with PayPal, and supports global expansion, envisioning it as the “future of inclusive, borderless commerce.” This launch follows PayPal’s recent PayPal World initiative, which began with Venmo interoperability.
Image Credit: Pixabay
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