PayPal May Enable US Merchants to Accept XRP and Other Cryptos for International Payments
Main Idea
PayPal's new 'Pay with Crypto' feature enables US merchants to accept cryptocurrencies like XRP and Solana, converting payments instantly to stablecoins with low fees to enhance global payment efficiency.
Key Points
1. PayPal's 'Pay with Crypto' allows US merchants to accept cryptocurrencies such as XRP and Solana, converting them instantly into PYUSD stablecoin and then to U.S. dollars.
2. The service offers low fees capped at 0.99% for the first year, making cross-border payments more efficient.
3. PYUSD acts as a stable medium for transactions, reducing volatility and ensuring faster settlements.
4. Regulatory hurdles, such as those in New York, limit immediate nationwide availability of the feature.
5. PayPal supports wallets like Coinbase, MetaMask, Binance, Phantom, and Exodus for crypto payments.
Description
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