PayPal Launches Crypto Payments with 90% Fee Cuts, Supports 100+ Coins

PayPal has introduced a new payment feature called “Pay with Crypto,” enabling merchants to accept transactions in over 100 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and stablecoins such as Tether (USDT) and USDC. The service, initially rolling out for U.S. merchants in the coming weeks, aims to streamline cross-border commerce by offering near-instant settlement for international transactions and reducing fees by up to 90%. Merchants can convert crypto payments into stablecoins or fiat currency immediately, minimizing exposure to price volatility [1].

The platform’s launch marks PayPal’s latest effort to integrate cryptocurrency into mainstream commerce. By supporting major crypto exchanges like Coinbase, OKX, Binance, and Kraken, as well as wallets such as MetaMask and Phantom, the service connects merchants to a global network of crypto users and platforms. This expansion targets the nearly $4 trillion crypto market, allowing businesses to tap into a customer base of over 650 million cryptocurrency users [1].

Alex Chriss, PayPal’s president and CEO, emphasized the initiative’s role in addressing challenges faced by businesses in global expansion. “Today, we’re removing these barriers and helping every business of every size achieve their goals,” he stated, highlighting cost savings and operational efficiency gains. For example, a merchant in Oklahoma City could accept crypto payments from a customer in Guatemala, benefiting from lower transaction fees and instant access to funds [1].

The feature also includes a partnership with Fiserv to integrate stablecoin payments for global businesses, further solidifying PayPal’s position in the crypto ecosystem. Additionally, the company’s collaboration with Venmo and other digital wallets to launch PayPal Word underscores its focus on expanding payment options while reducing costs for merchants. These initiatives align with broader trends in crypto adoption, where stablecoins are increasingly used for everyday transactions [1].

PayPal’s move reflects growing demand for crypto solutions in commerce. The platform’s support for 100+ cryptocurrencies, including both high-profile coins and stablecoins, provides merchants with flexibility to cater to diverse customer preferences. By enabling instant conversion to fiat or stablecoins, the service mitigates risks associated with crypto volatility, making it more accessible for mainstream use. The emphasis on fee reduction and cross-border efficiency positions PayPal to compete with other fintech firms exploring crypto-based payment systems [1].

Source: [1] [title:PayPal launches “Pay with Crypto” with support for over 100 cryptocurrencies] [url:https://coinmarketcap.com/community/articles/688799c9d834536705bade30/]