PayPal expects that this move will cover over 650 million cryptocurrency users globally, helping merchants enter the rapidly growing digital asset economy.
Written by: Blockchain Knight
According to a statement on July 28, PayPal has launched a new program called "Pay with Crypto," aimed at simplifying global business processes and significantly reducing cross-border transaction costs.
The company stated that this service can reduce international transaction fees for merchants by 90% compared to traditional credit card processors.
The breakthrough of this feature is attributed to the instant conversion technology from cryptocurrency to fiat currency or PayPal's native stablecoin PayPal USD (PYUSD). The platform supports over 100 cryptocurrencies, including Bitcoin and Ethereum, and is compatible with mainstream wallets like Coinbase and MetaMask.
PayPal expects that this move will cover over 650 million cryptocurrency users globally, helping merchants enter the rapidly growing digital asset economy.
PayPal President and CEO Alex Chriss emphasized that this program is expected to eliminate long-standing barriers in international commerce.
He stated, "Imagine a consumer in Guatemala purchasing specialty gifts from a merchant in Oklahoma City. Through PayPal's open platform, merchants can accept cryptocurrency payments, increase profit margins, reduce transaction fees, receive earnings almost instantly, and earn a 4% yield when holding PYUSD in PayPal."
"Pay with Crypto" integrates fiat and cryptocurrency payments into a single interface, providing consumers with flexible payment options while helping merchants expand into global markets. This aligns with PayPal's overall strategy to expand the use of stablecoins and enhance financial efficiency.
This program was launched following PayPal's recent collaboration with Fiserv to promote global stablecoin adoption.
Meanwhile, PayPal recently launched the "PayPal World" platform, aimed at connecting mainstream digital wallets and simplifying cross-border business processes.
This initiative will initially enable interoperability among five key players: PayPal, Venmo, Tenpay Global, NPCI International (UPI), and Mercado Pago.
The company stated that this further demonstrates its commitment to "simplifying low-cost digital commerce." Chriss said:
"These innovations not only simplify the payment process but also drive merchant growth, expand consumer choices, and reduce costs. This is the future of inclusive, borderless commerce, and we are proud to lead this transformation."
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