PayPal launched the "Pay with Crypto" service in July 2025, allowing U.S. merchants to accept payments in over 100 cryptocurrencies, with a transaction fee of only 0.99%, about 90% lower than international credit card fees. Payments will be automatically converted to PayPal's stablecoin PYUSD, and users can earn approximately 4% annualized returns by holding this stablecoin.
Meanwhile, Finastra has established a strategic partnership with Circle to incorporate USDC stablecoin settlements into its Global PAYplus (GPP) platform, enabling banks to complete cross-border payments at lower costs and faster speeds.
The crypto project Remittix has gained significant attention in the cross-border payment space. Its presale phase has raised over $21.5 million and recently listed on BitMart. Remittix supports cross-chain and multi-currency exchanges and is about to launch a Beta wallet that allows currency-to-bank account transfers in over 30 countries, supporting more than 40 cryptocurrencies and over 30 fiat currencies. Its low gas fees, high compatibility, and design for traditional bank transfers give it strong competitiveness in practical applications.
Blockchain giant Ripple announced plans to acquire the stablecoin payment platform Rail for $200 million. This platform currently handles about 10% of global stablecoin payment activities, providing virtual accounts and automated backend tools that significantly enhance payment efficiency. The acquisition is expected to be completed in the fourth quarter of 2025, aiming to strengthen Ripple's competitiveness in the stablecoin payment market.
2025 is referred to by the industry as the "Year of Stablecoin Cross-Border Payments." A robust global regulatory framework is gradually being established, with the U.S. "GENIUS Act" already passed and European regulations becoming more refined, strengthening the compliance path for stablecoins in payment scenarios.
A McKinsey report shows that by the first quarter of 2025, stablecoins were used in nearly 3% of cross-border remittances. Although still in the early stages, their advantages of instant settlement, low cost, and traceability are prompting more financial institutions and businesses to pay attention to and invest in this field.
Traditional payment giants like PayPal and Finastra have actively embraced crypto payment solutions, enhancing merchant acceptance and global coverage. However, the industry also faces challenges such as regulatory compliance and technological integration. For instance, compliance mechanisms like KYC and AML need to be embedded in product design to avoid risks and regulatory hurdles.
Looking ahead, cross-border payments will continue to be reshaped by stablecoins and crypto infrastructure:
Significant efficiency improvements: Through crypto pathways, payment settlement times are reduced from days to seconds or minutes, with costs significantly lowered.
Diverse platform integration: From PayPal and Finastra to Ripple and Remittix, diverse applications are driving innovation in payment models.
Regulatory clarity: Legal and regulatory updates will provide a healthier development environment.
Challenges remain: Issues such as technological barriers, regulatory coordination, and user trust still need to be further addressed and balanced.
Related: Google outlines the "Universal Ledger" plan as institutional blockchain competition heats up.
Original article: “Cryptocurrency Drives Innovation in Cross-Border Payments: From Stablecoins to Platform Integration Enhancing Global Liquidity”
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