Global payments giant PayPal has launched a payment method that allows U.S. merchants to transact in more than 100 cryptocurrencies through some of the largest crypto wallets, with fees reduced by up to 90%, PayPal claims.
According to the press release, Pay with Crypto will become available to U.S. merchants “in the coming weeks.”
The novel offer will cover 90% of the $4 trillion crypto market cap, PayPal says. More than 100 different coins will be available, including giants like Bitcoin, Ethereum, Solana, BNB, and XRP, as well as stablecoins such as USDT and USDC, and memecoins.
Additionally, Pay with Crypto will support several major wallets—“with more to come.” These include Coinbase, OKX, Binance, Kraken, Phantom, MetaMask, and Exodus.
With a transaction rate of 0.99%, PayPal says the new solution decreases transaction costs by up to 90% compared to international credit card processing.
“Today, PayPal is simplifying cross-border commerce for merchants by connecting an unmatched combination of cryptocurrencies, digital wallets, and merchants worldwide,” the team writes.
Offering more payment options comes with a number of benefits for merchants, they note. Some of these are attracting more customers, supporting global expansion, enhancing efficiency, speed, lowering fees, and earning rewards for PYUSD on PayPal.
Finally, Pay with Crypto “taps into a global base of more than 650 million crypto users,” the announcement says.
PayPal Plans to Expand ‘Pay with Crypto’ Globally
As noted above, PayPal will charge merchants a fee of 0.99% on transactions. This is a promotional fee for the first year, and it will increase to 1.5%, according to Fortune Crypto, citing Frank Keller, an executive vice president.
The report notes that this is lower than the 1.57% average rate that U.S. businesses paid to credit card companies in 2024.
Meanwhile, the executive explained that users will be able to connect their existing wallets to a checkout page to complete a transaction. The crypto will go into a centralized or decentralized exchange, depending on the wallet, where PayPal will sell it, convert it into PYUSD, and then into USD, which the merchant will ultimately receive.
And the company seems to plan further expansion. Per the report:
“PayPal plans to expand the ability for merchants to accept crypto to larger enterprise customers in the U.S. and globally, but a spokesperson declined to provide a timeline.”
Per PayPal’s latest announcement, businesses globally lose billions every year in cross-border fees.
“Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations,” said Alex Chriss, President and CEO at PayPal.
“Using PayPal’s open platform, the business can accept crypto for payments, increase their profit margins, pay lower transaction fees, get near instant access to proceeds, and grow funds stored as PYUSD at 4% when held on PayPal,” he says.
Meanwhile, on July 23, PayPal launched PayPal World, a “series” of partnerships with five major digital wallets, starting with the PayPal-Venmo interoperability.
“By enabling seamless cross-border crypto payments, we’re breaking long-standing barriers in global commerce,” Chriss says. “These innovations don’t just simplify payments—they drive merchant growth, expand consumer choice, and reduce costs. This is the future of inclusive, borderless commerce,” he concluded.
