PayPal has officially launched its new Pay with Crypto feature, allowing users to make purchases using more than 100 different cryptocurrencies.
Announced by CEO Alex Chriss, this move aims to streamline global payments and reduce transaction costs for both consumers and merchants, tapping into a growing user base of over 650 million crypto holders.
Broad Crypto Support and Wallet Integrations
The service supports major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and stablecoins such as USDT, as well as a wide variety of lesser-known tokens, including memecoins.
Users can make payments through integrated wallets like Coinbase Wallet, MetaMask, Phantom, Binance, Kraken, OKX, and Exodus, with more platforms expected to be added soon. Transactions are processed instantly, converting crypto to fiat or stablecoins with near-instant settlement.
Lower Fees and Faster Settlements
One of the most notable benefits of the feature is its promotional flat transaction fee of 0.99%, significantly lower than the usual 3–4% fees for cross-border payments. According to PayPal, users could save up to 90% on international transactions, thanks to reduced foreign exchange and card network fees. This fee structure will remain in place until July 31, 2026.
Boosting Merchants and Borderless Commerce
Alex Chriss emphasized that the new feature is designed to support small and large businesses alike. He gave an example of a shopper in Guatemala purchasing a product from a U.S. merchant, highlighting how the new system enables instant access to funds.
Merchants also have the option to retain their earnings in PayPal USD (PYUSD), earning a 4% yield on their balance.
PayPal’s PYUSD, now a top 10 stablecoin with an $890 million market cap, plays a key role in the new feature. Through a recent agreement with Fiserv, PYUSD is now interoperable with FIUSD at thousands of U.S. community banks, extending its usage beyond PayPal’s ecosystem.
Rollout and Regulatory Plans
Pay with Crypto will initially launch for U.S.-based merchants and users, with international rollouts planned, subject to local regulations. PayPal is awaiting approval from regulators, including New York’s Department of Financial Services, before expanding into new markets.