PayPal has launched a new payment feature called Pay with Crypto.
What does this do? It allows merchants to accept payments in over 100 cryptocurrencies, including popular ones like Bitcoin and Ethereum. Other than that, it also accepts Tether, Ripple, Binance Coin, Solana, USDC, and many others.
Customers can now make transactions directly through major crypto wallets such as Coinbase, OKX, Binance, Kraken, Phantom, MetaMask, and Exodus, with more to come.
Moreover, PayPal will automatically convert crypto payments into either regular currency or its own U.S. dollar-backed stablecoin, PYUSD, before depositing the funds into the merchant’s account. A 0.99% transaction fee also applies.
PayPal Pay with Crypto Availability
The Pay with Crypto feature is only available to U.S. merchants, but the online payment system plans to expand to other regions in the future. Do you want to see this feature in the Philippines too?