PayPal launches crypto checkout for US merchants, accepting 100+ coins including BTC
Main Idea
PayPal has introduced a new crypto payment feature in the US, allowing merchants to accept over 100 cryptocurrencies at checkout, with PYUSD stablecoin facilitating real-time conversions, though it awaits NY regulatory approval.
Key Points
1. PayPal's 'Pay With Crypto' feature enables US merchants to accept payments in USD or PYUSD, supporting over 100 cryptocurrencies including BTC, ETH, and memecoins.
2. PYUSD stablecoin is central to the feature, acting as a bridge for conversions, but it has not yet received approval from the New York State Department of Financial Services (NYDFS).
3. Transaction fees for merchants are set at 0.99% for the first 12 months, increasing to 1.5% thereafter, which is lower than traditional cross-border payment fees.
4. The launch follows the GENIUS Act, which has spurred financial companies to expand crypto payment services and provided clearer legal parameters for stablecoins.
5. PayPal's crypto payments are not insured by the FDIC or the Securities and Exchange Commission (SEC).
Description
PayPal has rolled out a new crypto payment feature in the US, enabling merchants to accept more than 100 cryptocurrencies at checkout, including Bitcoin, Ethereum, and USDT. The move comes amid growing regulatory clarity following the introduction of the GENIUS Act , which has spurred major financial companies to expand their digital asset offerings. Branded as “ Pay With Crypto ,” the feature is being offered with a 0.99% transaction fee for the first year, giving PayPal merchants an alternativ...
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