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PayPal has introduced a new service, Pay with Crypto, allowing small businesses in the U.S. to accept dozens of cryptocurrencies from customers worldwide. The crypto payments will be converted into PYUSD, PayPal’s stablecoin managed by Paxos, giving merchants faster access to funds and lower transaction fees.
CEO Alex Chriss said the move helps businesses overcome global challenges like high international payment costs and complex integrations. The service will launch with a 0.99% fee for the first year, rising to 1.5% later, which remains cheaper than international credit card processing. Supported wallets include Coinbase, OKX, Binance, Kraken, Phantom, MetaMask, and Exodus.
Even memecoins like TRUMP and FARTCOIN will be supported, with PayPal converting them to U.S. dollars via exchanges like Coinbase or Uniswap before delivering funds to merchants. Since entering crypto in 2020, PayPal has expanded its digital finance offerings, with PYUSD now the 12th-largest stablecoin. However, the company noted PYUSD is not insured by the FDIC or SIPC.
