• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Why PayPal Could Become the Next Crypto Super App

user avatar

by Giorgi Kostiuk

a year ago

  1. Integration of Ethereum Name Service (ENS) with PayPal and Venmo
  2. Growth of PYUSD stablecoin
  3. Support for crypto payments at checkout


    4. PayPal seems to be taking significant steps to become a crypto super app. The company's latest moves show that PayPal might be building a strong crypto strategy.

    Integration of Ethereum Name Service (ENS) with PayPal and Venmo

    Recently, the Ethereum Name Service (ENS) announced that payment giants PayPal and Venmo have integrated support for ENS domain names. This integration enables users to employ the platforms to transmit crypto assets to an ENS address.

    ENS recently shared a post via their X account, announcing that PayPal and Venmo both support ENS domains. According to the team behind the project, the new feature brings the power of ENS to millions, making crypto transfers easier and more secure than ever. The move reportedly starts in the USA.

    In other words, PayPal and Venmo’s US-based users, about 278 million and 77.7 million respectively, will now be able to send platform-supported Ethereum-based tokens to ENS addresses.

    This is a huge number of new potential users considering that Ethereum had a total of almost 14 million active addresses in August.

    For instance, as of August 9, the number of active addresses on Ethereum was over 400,000, according to data from Glassnode.

    Growth of PYUSD stablecoin

    PYUSD stablecoin recently peaked at more than $1 billion in market cap on September 10, just 383 days after launch.

    Now, according to official data from defillama, the total market cap of PYUSD is almost $860 million.

    Support for crypto payments at checkout

    Also, for US customers looking to spend their crypto gains online, PayPal offers assistance and allows them to pay with crypto across their network of 10.9 million US-based online merchants.

    Customers can simply click on 'Pay with PayPal' at checkout and select the token that they want to spend. PayPal converts it into fiat and pays merchants in USD.

    By making users’ transition to crypto easy, while integrating PYUSD at the backbone of its system, PayPal can become a strong crypto app.

    PayPal and Venmo can convert parts of their combined 355.8 million user base into PYUSD holders, competing with Tether (USDT)’s 6 million total token holders.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

X Introduces Starter Pack Tool to Enhance User Experience

chest

On January 22, X Product Lead Nikita Bier announced the launch of a new tool called the Starter Pack, designed to help new users discover top accounts across various industries and regions based on traffic performance.

user avatarSon Min-ho

Bitmain Executes Major Ethereum Acquisition Worth $105.5 Million

chest

Bitmain has executed a major Ethereum acquisition, acquiring 34,954 ETH for approximately $105.5 million, reflecting strong institutional confidence in the asset.

user avatarAyman Ben Youssef

PinLink Revolutionizes Infrastructure Ownership with RWA Tokenization

chest

PinLink introduces a dual-engine model that tokenizes physical infrastructure, allowing asset owners to generate income and AI developers to access decentralized compute power.

user avatarTando Nkube

KOSPI 5000 Breakthrough: Expert Analysis and Market Outlook

chest

Following the KOSPI index's historic breakthrough of 5000 points, financial experts urge cautious optimism while highlighting the need for careful assessment of valuation metrics and external risks.

user avatarNguyen Van Long

Factors Driving KOSPI's Historic Surge Above 5000 Points

chest

Several interconnected factors contributed to the KOSPI index's rise above 5000 points, including strong corporate earnings and foreign investment.

user avatarKofi Adjeman

KOSPI Index Surpasses 5000 Points in Historic Achievement

chest

In a landmark moment for Asian finance, South Korea's benchmark KOSPI index decisively breached the formidable 5,000-point barrier during early trading in March 2025.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.