PayPal allows businesses to accept Bitcoin, Ethereum, and over 100 types of cryptocurrencies

PayPal has just announced a major advancement, allowing small businesses in the U.S. to accept over 100 types of cryptocurrencies on its platform, including Bitcoin, Ethereum, and Solana. The new service called "Pay with Crypto" will help convert cryptocurrencies into stablecoins or fiat currency.

Expanding services and benefits for businesses

"Pay with Crypto" will support transactions through many popular wallets like Coinbase, Kraken, and MetaMask. CEO #Paypal , Alex Chriss, emphasized that this service will help businesses remove barriers in international payments, reduce costs, and access revenue almost instantly.

This initiative is part of PayPal's strategy to expand its crypto services. Previously, the company introduced the PayPal World platform to connect digital wallets with its global network. PayPal's stablecoin #PYUSD , launched in 2023, has reached a market capitalization of over 901 million USD, and users can exchange PYUSD for USD to make international payments via Xoom.

With Pay with Crypto, businesses can increase profit margins, reduce transaction fees, and receive cash flow almost instantly. This initiative will cover 90% of the crypto market, estimated at nearly 4 trillion USD. This is a significant breakthrough, helping to simplify payments, drive growth for businesses, and expand choices for consumers, moving towards a borderless commerce future.#anhbacong