Nikolas Sargeant
PayPal has launched a new cryptocurrency checkout tool that enables US merchants to accept payments using more than 100 different digital tokens, marking a significant expansion of the payment giant's crypto capabilities. The feature supports major cryptocurrencies including Bitcoin, Ethereum, Solana, USDT, USD Coin, and XRP, while integrating seamlessly with popular crypto wallets such as Coinbase Wallet, MetaMask, OKX, Kraken, Binance, Phantom, and Exodus.
The innovative payment solution automatically converts cryptocurrency transactions into PayPal's own stablecoin PYUSD or traditional fiat currency at checkout, effectively shielding merchants from the volatility typically associated with digital assets. This approach allows businesses to tap into the growing crypto economy without exposing themselves to price fluctuations that have historically deterred merchant adoption.
PayPal positions this service as a cost-effective alternative to traditional payment processing, charging merchants just 0.99% per transaction—a rate the company claims is 90% lower than typical credit card processing fees. The tool specifically targets cross-border transactions, which have traditionally been expensive and complex for small and medium-sized businesses seeking to expand their global reach.
The rollout comes as PayPal's PYUSD stablecoin has gained significant traction, with its market capitalization rising nearly 80% since January to reach $894 million. The timing also benefits from recent regulatory clarity, as the SEC terminated its investigation into PYUSD in February 2025 without enforcement action, removing a key regulatory overhang that had persisted since November 2023. Currently available only to US-based merchants excluding New York residents, the service represents PayPal's strategic move to compete with rivals like Stripe and Coinbase in the rapidly evolving crypto payments landscape.
