coindoo.com
PayPal is doubling down on digital assets with a major update that lets U.S. merchants accept cryptocurrency payments from customers using over 100 different tokens — ranging from Bitcoin and Ethereum to meme coins like Trump-themed tokens and Fartcoin.
Merchants opting into the program will benefit from lower processing fees, with a 0.99% promo rate in the first year, later rising to 1.5%, still below typical credit card charges.
Users can connect their wallets to pay with crypto, which PayPal converts into its own stablecoin $PYUSD before settling in dollars.
This system leverages exchanges like Coinbase and Uniswap for real-time conversion, supported by an existing zero-fee partnership with Coinbase for $PYUSD.
Global Crypto Payments, Made Easy
According to CEO Alex Chriss, the update simplifies international sales by using blockchain rails to remove traditional banking barriers. For example, a store in Oklahoma can now accept crypto payments from a buyer in Guatemala, no third parties needed.
PayPal first launched crypto features in 2020 and later introduced its stablecoin $PYUSD in 2023. After regulatory pushback, including an SEC probe that was eventually dropped, $PYUSD has seen a 70% rise in market cap this year, reaching $850 million.
This latest move signals PayPal’s renewed commitment to blockchain integration, backed by stronger political support and a recovering crypto market.