PayPal just announced “Pay with Crypto,” a new service aimed at helping U.S. merchants accept cryptocurrency from customers around the globe. With support for over 100 different coins and popular wallets like MetaMask, Coinbase, and Kraken, this could finally be the turning point where crypto starts to feel truly usable in everyday life.
Here’s the big pitch: instead of paying high international credit card fees, merchants can now accept crypto payments at a flat rate of just 0.99 percent. According to PayPal, that can mean up to 90 percent savings on cross-border transactions. On top of that, funds settle almost instantly, and if the merchant chooses to hold the money as PYUSD (PayPal’s own stablecoin), they can earn 4 percent interest.
From a business perspective, this is a smart way to tap into the massive global crypto user base, which now tops 650 million people. PayPal says its platform now connects to a $3 trillion market. Whether you’re a freelancer in California or a small shop in Oklahoma City, this gives you access to buyers in places you may have never reached before.
As someone who follows tech and uses PayPal regularly, I think this is very cool. I’ve been watching crypto evolve for years, and seeing it finally integrated into a platform that regular people actually use is exciting. Personally, I can’t wait to one day make a purchase with Fartcoin (which I do own). Yes, it’s a silly name, but that’s part of the fun. The fact that even joke tokens can be used now shows how far things have come.
PayPal says it’s working with major wallet providers like Binance, Phantom, OKX, Exodus, and more. Support for additional coins and wallets will continue rolling out, and the service is expected to go live for U.S. merchants in the coming weeks.
Of course, this being crypto, there are plenty of disclaimers. If you lose your private keys, your money could be gone forever. And there’s no FDIC or SIPC protection. The service isn’t approved for use in New York yet either (where I am), which is typical for anything crypto-related. Regulation continues to be messy.
Still, the direction is clear. PayPal wants to blur the line between fiat and crypto and make global payments easier for everyone. That’s something I can definitely get behind.
