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PayPal to Let U.S. Merchants Accept Over 100 Crypto Tokens at Checkout - Unchained
Payments giant PayPal is rolling out a new service called “Pay with Crypto” that allows U.S. merchants to accept payments in over 100 different digital assets.
The service connects shoppers’ crypto wallets directly at checkout, enabling them to pay with their digital assets while merchants receive the payment in U.S. dollars
This story is an excerpt from the Unchained Daily newsletter.
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PayPal will automatically convert the crypto payment into fiat currency or its own stablecoin PYUSD for the merchant. Those merchants can also hold funds in PYUSD and earn yield on those balances within PayPal accounts.
PayPal aims to facilitate faster and cheaper cross-border payments, decreasing the cost of transactions by up to 90% when compared to international credit cards.