PayPal Holdings Inc. will soon let U.S. merchants accept payments in over 100 cryptocurrencies, marking a significant step in its effort to lower cross-border transaction costs and broaden international commerce capabilities, the company announced Monday.
The new service, called “Pay with Crypto,” is scheduled to roll out in the coming weeks. It will allow consumers to use digital wallets such as MetaMask and Coinbase to pay for goods and services with popular cryptocurrencies including Bitcoin (BTC), Ether (ETH), XRP, and stablecoins like USDC and USDT. Despite receiving crypto from customers, merchants will be paid in U.S. dollars, with transactions settled almost instantly, a company spokesperson confirmed.
The platform is expected to cover approximately 90% of the total crypto market, which currently approaches a $4 trillion valuation, according to data from crypto analytics firm CoinGecko. To encourage adoption, PayPal will charge a service fee of just 0.99% per transaction—nearly 90% less than typical international credit card processing fees.
“Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations,” said Alex Chriss, PayPal president and CEO. “Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City. 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.”
The initiative builds upon PayPal’s expanding digital asset footprint. In 2023, the company launched its own U.S. dollar-backed stablecoin, PayPal USD (PYUSD), which has a market capitalization exceeding $900 million. PayPal also allows users to convert PYUSD into dollars for international payments via its Xoom platform, extending its reach into global remittances.
Since introducing limited crypto services in 2020, PayPal has progressively expanded its offerings. Users can now not only buy, sell, and hold cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin but also transfer them to external wallets—a capability long demanded by users.
Additionally, PayPal is preparing to debut a new platform this fall—PayPal World—which aims to connect domestic digital wallets to the company’s international network of nearly two billion users. The upcoming feature will further integrate global financial ecosystems and is positioned as a cornerstone in the firm’s broader strategy to promote crypto adoption in everyday commerce.