PayPal’s Historic Move: Over 100 Cryptocurrencies, Including Bitcoin and Ethereum, Now Payment Methods!

PayPal has announced its new service, Pay with Crypto, for US businesses. This service allows for instant fiat and stablecoin conversion for over 100 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Solana (SOL).

According to a statement by PayPal, the new service was developed to address the high transaction costs and delays in international trade. It enables businesses to accept cryptocurrency payments, reducing transaction fees by up to 90%. The US-based company will gain access to a market size exceeding $3 trillion through this initiative.

Thanks to the new payment system, businesses will be able to instantly convert crypto payments into fiat currency or stablecoins with a low commission of 0.99%. Pay with Crypto will integrate with popular wallets such as Coinbase, Binance, OKX, Kraken, MetaMask, and Phantom, thereby reaching over 650 million crypto users globally.

Significant Advantage in Crypto Commerce

PayPal CEO Alex Chriss highlighted the critical importance of the new service, especially for businesses engaged in international trade. “This system will reduce costs and barriers in global commerce, increase business profitability, and offer customers wider payment options,” he stated.

According to PayPal’s announcement, with Pay with Crypto, businesses can also earn an annual yield of 4% by holding their earnings in PayPal USD (PYUSD) stablecoin. The company recently announced the PayPal World platform, which enhances global collaboration among digital wallets. Crypto-based international transactions via this platform aim to remove borders in global trade.

PayPal’s new service will be made available to all US businesses in the coming weeks.

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