PayPal is ramping up its crypto strategy with a new feature that allows U.S. businesses to accept payments in over 100 cryptocurrencies. The service, dubbed “Pay with Crypto,” converts incoming tokens into PYUSD, PayPal’s U.S. dollar-backed stablecoin managed by Paxos, enabling near-instant settlements and lower fees.
According to CEO Alex Chriss, the move aims to help merchants scale globally by simplifying crypto payments and reducing costs. Initially, PayPal will charge a 0.99% transaction fee, rising to 1.5% after the first year—still below traditional international credit card processing fees.
The rollout will support major wallets including MetaMask, Phantom, Coinbase, OKX, Binance, Kraken, and Exodus. Supported tokens range from Bitcoin and Ethereum to niche memecoins like TRUMP and FARTCOIN. Transactions will be routed through centralized exchanges like Coinbase or decentralized platforms like Uniswap, depending on the asset.
Although PYUSD is not FDIC- or SIPC-insured, it has grown into the 12th-largest stablecoin with a $900 million market cap since its 2023 launch. PayPal's deeper crypto integration reflects its long-term ambition to embed blockchain into mainstream financial tools.
Conclusion
PayPal’s latest expansion marks a significant step toward mainstream crypto adoption, offering businesses flexible, lower-cost options for global transactions—anchored by its increasingly prominent stablecoin, PYUSD.
