The company #Paypal has launched a new cryptocurrency payment tool that will allow American merchants to accept payments in over 100 cryptocurrencies. The company clearly decided not to fall behind competitors and finally offer businesses what many have been waiting for for years.
What the new service offers
American entrepreneurs will now be able to accept payments in Bitcoin $BTC , Ethereum $ETH , Solana $SOL , USDt, USD Coin, and XRP among other tokens. The system integrates with popular crypto wallets — Coinbase Wallet, MetaMask, OKX, Kraken, Binance, Phantom, and Exodus.
All payments are automatically converted into PayPal's stablecoin PYUSD or fiat currency right at checkout. Merchants receive money in a familiar form, without the need to track cryptocurrency exchange rate fluctuations.
The transaction fee is only 0.99% — significantly lower than standard credit card processing costs. For comparison: Visa's rates start at 1.75% of the transaction amount.
Focus on cross-border payments
PayPal is betting on simplifying international transfers, which have traditionally been expensive for small and medium-sized businesses. The service is currently available only to American retailers, with the exception of residents of New York.
The company is not alone in this race. Stripe and Coinbase are also actively developing global cryptocurrency payments. In October 2024, Stripe added support for payments in USD Coin, which was used by customers from 70 countries on the very first day. In June, the fintech company teamed up with Coinbase to integrate fiat-to-crypto conversion services on both platforms.
PayPal's stablecoin is gaining traction
The launch of the new tool comes against the backdrop of impressive growth in PYUSD. Since the beginning of the year, the market capitalization of the stablecoin has increased by almost 80% — from $497 million to $894 million, according to CoinGecko data.
Coinbase, by the way, is also on the move. Back in 2018, the exchange launched Coinbase Commerce for accepting cryptocurrency payments on platforms like Shopify and WooCommerce. In 2024, it introduced the x402 protocol — a payment system for cryptocurrency transactions over standard HTTP, aimed at APIs and AI agents.
Regulatory support stimulates development
The new PayPal service emerged after the passing of the GENIUS Act, which allowed companies to legally expand services with stablecoins and integrate them into payment infrastructure.
Small businesses around the world are increasingly accepting cryptocurrency payments. The food service, retail, tourism, e-commerce, and even real estate industries are switching to cryptocurrencies due to speed and low fees.
