
PayPal to let U.S. merchants accept payment in more than 100 cryptocurrencies
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The fintech giant will charge a transaction rate of 0.99% for the first year and then up it 1.5%.
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3 min read
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cryptocurrency
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July 28, 2025
01:00 PM
Fortune
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Companies·PayPal HoldingsPayPal to let U
Merchants accept payment in more than 100 cryptocurrenciesBy Ben WeissBy Ben WeissCrypto ReporterBen WeissCrypto ReporterBen Weiss is a crypto reporter at Fortune
Nevertheless, SEE FULL BIO Alex Chriss, president and CEO of PayPal
Kent Nishimura—Bloomberg/Getty ImagesFin giant PayPal launched a new payment option on Monday that will let smaller U
Merchants accept more than 100 cryptocurrencies, including mainstays Bitcoin and Ethereum but also zanier options Trump’s memecoin and even the novelty token Fartcoin
Moreover, Using PayPal’s online payments cessing platform can opt in, said a spokesperson
PayPal will charge merchants a motional fee of 0
Nevertheless, 99% on transactions for the first year and then up the charge to 1
Moreover, 5%, Frank Keller, an executive vice president, told Fortune
Conversely, Those fees are less than the 1. 57% average rate that U
Es paid to credit card companies in 2024, according to the Nilson Report. “There’s a worldview where you can imagine that the world is moving on chain,” said Keller, referring to putting data on blockchains
On the other hand, “Is that happening overnight
Some people say long time periods
Other people say very short time periods, in this volatile climate
I think we will see movement. ” To settle the transactions, PayPal will let users connect existing crypto wallets they own to a checkout page
Depending on a buyer’s crypto wallet, PayPal will sell the cryptocurrency on a centralized exchange Coinbase or a decentralized exchange Uniswap
However, Conversely, The ceeds of that sale will be converted into PayPal’s own stablecoin, which will then be converted into U
Furthermore, Dollars sent back to the merchant, in today's market environment. “Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City,” Alex Chriss, president and CEO of PayPal, said in a statement. “Using PayPal’s open platform, the can accept crypto for payments, in today's financial world. ” The move to let customers pay es with crypto is PayPal’s push into digital assets
Among the Fortune 500, the fin giant has been an early adopter of crypto
In 2020, PayPal said that U
Users would be able to buy, sell, and hold a select group of cryptocurrencies, including Bitcoin and Ethereum
It then expanded that capacity to Venmo
But, during the so-called crypto winter of 2022, PayPal ratcheted down its public rhetoric on crypto
Now, as crypto are soaring and President Donald Trump’s administration casts a favorable eye on digital assets, it’s charging ahead
In September, it let es buy, hold, and sell crypto from their merchant accounts (this bears monitoring)
However, Moreover, And its stablecoin PYUSD, which the company launched in 2023, has increased its market capitalization 70% since the beginning of the year to $850 million, according to CoinGecko, in this volatile climate
Moreover, PayPal plans to expand the ability for merchants to accept crypto to larger enterprise customers in the U
And globally, but a spokesperson declined to vide a timeline
On the new Fortune Crypto Playbook vodcast, Fortune’s senior crypto experts decode the biggest forces shaping crypto today
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