PayPal has announced a new 'Pay with Crypto' feature that will be available for merchants in the United States. This tool will allow the acceptance of payments in over 100 cryptocurrencies, including Bitcoin and Ethereum.
New 'Pay with Crypto' Feature
PayPal announced the launch of the 'Pay with Crypto' feature, which will allow US merchants to accept payments in more than 100 cryptocurrencies. Supported currencies include Bitcoin, Ethereum, Solana, and XRP. According to the company, this feature will be integrated with top wallets such as MetaMask, Coinbase Wallet, and others.
Reduction of International Transaction Costs
With the new tool, PayPal aims to address the issues faced by businesses globally, including high costs for international payments and complex integrations. The company claims it will reduce transaction fees by 'up to 90%' compared to traditional international credit card processing channels.
PayPal's Strategy and PYUSD Growth
PayPal's strategy is centered on accelerating the adoption of its stablecoin PYUSD. Since the beginning of the year, its market cap has surged by nearly 80%, reflecting increasing interest in the product. An important aspect of this is the growing regulatory clarity in the US, allowing the company to confidently expand its cryptocurrency offerings.
The launch of the 'Pay with Crypto' feature by PayPal promises to streamline the acceptance of cryptocurrencies for merchants and open new opportunities for businesses in the realm of international transactions.
