PayPal has announced it will soon allow businesses to accept payments in over 100 cryptocurrencies, including Bitcoin, Ethereum, USDT, USDC, and more, with the feature set to launch in the coming weeks.
When customers choose to pay with cryptocurrency, PayPal will automatically convert the funds into fiat currency or its own stablecoin, PYUSD, before depositing the amount into the merchant’s account. Transactions are expected to settle instantly, with a transaction fee of 0.99%, while international payment fees may exceed 10%. Merchants who opt to hold funds in PYUSD can earn approximately 4% interest on their balances.
Frank Keller, PayPal’s General Manager of Large Enterprise and Merchant Platform, highlighted the move as a way to give small businesses access to the rapidly growing crypto user base—estimated at 650 million globally—and to build trust in cryptocurrency payments.
This initiative is part of PayPal’s broader strategy to integrate crypto assets into its services and scale its presence in the crypto space.
In a challenging economic climate marked by rising job losses and financial insecurity among small businesses, PayPal’s crypto payment rollout offers a timely opportunity for merchants to tap into new customer segments and potentially boost revenue.
For the cryptocurrency community, PayPal’s adoption signals renewed confidence and a push toward mainstream acceptance after a volatile period.
