PayPal has launched a significant expansion of its ‘Pay with Crypto’ feature, enabling merchants globally to accept over 100 different cryptocurrencies as payment.
The move directly targets inefficiencies in traditional payment methods, offering merchants the potential to reduce cross-border transaction fees substantially—by as much as 90%.
To streamline the process, PayPal has integrated ‘Pay with Crypto’ seamlessly with prominent digital wallets including Coinbase Wallet, Kraken Wallet, and MetaMask, facilitating easy adoption for both merchants and customers.
This development advances PayPal’s broader strategy within the decentralized finance (DeFi) ecosystem, building upon its introduction of the PYUSD stablecoin.
The market has responded positively: PayPal’s stock price surged following the announcement, reflecting strong investor confidence in the initiative’s potential to capture significant market share.
Overall, the solution directly tackles common pain points like high costs and slow settlement times, aiming to significantly enhance accessibility and efficiency for international commerce.