Paypal said On Monday, it will allow companies to accept payments in more than 100 types of cryptocurrencies, including Bitcoin and Ethereum.
Called “Pay with Crypto”, the new service will allow consumers to use many types of cryptocurrencies to make their purchases, as well as to use portfolios such as Coinbase and Metamask, the company said in a press release. After buyers have paid in crypto, payments will automatically convert to Fiat or stable.
Paypal has its own stablecoin, called Paypal USD, or Pyusd, which is supported by the US dollar.
The Californian company said that the new service would simplify cross -border trade, would increase the beneficiary margins of the merchant and reduce the transaction costs associated with the processing of international credit cards. PayPal offers a transaction rate of 0.99% until July 31, 2026, lower than the average credit card transaction rate, which generally varies between 1.5% and 3.5%, according to in Nerdwallet.
“Relying on our 25 years and more payments, we leave users connecting their wallets, pay with any token, convert it instantly to Pyusd and deliver the USD to traders in a few seconds. The result? The merchants pay less in fresh and can instantly use funds,” said Alex Chriss, President and CEO job on X.
Companies can opt for a beta version of the new system in the coming weeks, according to a company spokesperson. Availability will develop later this year, they added.
“The cryptocurrency has promised a more affordable financial system and instant global transfers. But the challenges persist: the volatility of extreme prices, complex portfolios subject to errors and irreversible transactions with an easy way to emit reimbursements. Pay with the crypto helps relieve these challenges,” said Chriss in another X job.
Paypal is used by tens of millions of merchants around the world, according to a company spokesperson.
Last week, President Trump signed the act of law in lawIncorporating digital currency more into the dominant current. The first major cryptography legislation never adopted by Congress, the engineering law establishes a regulatory framework for the $ 250 billion market.
