- PayPal is adding a “Pay with crypto” feature for U.S. merchants, supporting over 100 cryptocurrencies.
- The service enables fiat/stablecoin conversion and supports major wallets like Kraken and MetaMask.
- The crypto market surged after the news, with trading volume jumping 42% amid growing investor interest.
In a significant push toward crypto adoption, PayPal is introducing a new “Pay with crypto” option for merchants in the U.S. The feature, announced on Monday, will allow businesses to accept payments in over 100 cryptocurrencies, including Bitcoin and Ethereum. Customers will have the ability to convert their crypto into stablecoins or fiat currency, and the system will support top wallets such as Kraken, MetaMask, and Coinbase.
A Global Vision with Lower Fees and Faster Access
PayPal CEO Alex Chriss emphasized the impact this feature could have on international business. He cited an example of a shopper in Guatemala buying from a merchant in Oklahoma City, noting how PayPal’s open platform removes cross-border payment barriers. Merchants can increase profits, reduce transaction fees, and access proceeds nearly instantly. Funds can also be stored in PYUSD, PayPal’s stablecoin, for added utility.
Building on Recent Crypto Momentum
This announcement follows PayPal’s recent launch of “PayPal World,” a global partnership bringing together major digital wallets. The company has made it clear that crypto integration is a long-term focus. “Pay with crypto” is expected to go live for U.S. merchants in the coming weeks, representing a notable milestone in merging digital assets with everyday commerce.
Market Reaction and Investor Sentiment
Following the announcement, the broader crypto market saw a mild rally. The total market cap rose 0.56% to $3.92 trillion, while 24-hour trading volume spiked over 42% to $174.23 billion. Much of the surge appears fueled by investor excitement and growing FOMO, as more major institutions continue to normalize crypto payments.
