PayPal Expands Cryptocurrency Payments to Over 100 Tokens for Businesses
By Mary Cunningham, CBS MoneyWatch — July 28, 2025
In a significant development for digital payments, PayPal announced on Monday that it will enable businesses to accept payments in more than 100 different cryptocurrencies, including major tokens like Bitcoin and Ethereum. The new service, dubbed "Pay with Crypto," aims to simplify the process for merchants while giving consumers greater flexibility in how they pay.
How "Pay with Crypto" Works
Through the "Pay with Crypto" feature, customers can use various cryptocurrencies to complete purchases on platforms that accept PayPal. The service supports popular crypto wallets such as Coinbase and MetaMask, allowing for seamless integration with consumers’ existing digital assets.
Once a payment is made in cryptocurrency, PayPal automatically converts it into fiat currency (such as U.S. dollars) or a stablecoin, facilitating a smooth transaction for merchants who may not wish to hold crypto assets. Notably, PayPal’s own stablecoin, PayPal USD (PYUSD), which is fully backed by the U.S. dollar, will be a core part of this conversion process.
Alex Chriss, PayPal’s president and CEO, emphasized the company’s expertise in payments in a post shared on X (formerly Twitter):
"Building on our 25+ years in payments, we let users link their wallet, pay with any token, convert it instantly to PYUSD, and deliver USD to merchants in seconds. The result? Merchants pay less in fees and can instantly use funds."
Benefits for Businesses
PayPal highlighted several advantages of adopting this new crypto payment system:
- Lower Transaction Fees: Until July 31, 2026, PayPal will charge a reduced transaction rate of 0.99%, which is significantly less than typical credit card processing fees that generally range between 1.5% to 3.5%, according to NerdWallet.
- Simplified Cross-Border Commerce: By converting crypto payments instantly to USD or stablecoins, the service reduces complexities and costs associated with international credit card transactions.
- Improved Merchant Profit Margins: Lower fees and faster fund access mean businesses can retain more revenue and manage cash flow efficiently.
A company spokesperson confirmed that a beta version of this service will roll out to select businesses in the coming weeks, with wider availability planned later this year.
Addressing Cryptocurrency Challenges
While cryptocurrency holds promise for affordable, global financial exchanges, it has faced hurdles such as price volatility, complicated wallet management, and difficulties handling refunds. Alex Chriss acknowledged these pain points:
"Cryptocurrency promised a more affordable financial system and instant global transfers. But challenges persist: extreme price volatility, complex wallets prone to errors, and irreversible transactions with no easy way to issue refunds. Pay with Crypto helps relieve these challenges."
Growing Crypto Adoption and Regulation
PayPal’s move coincides with expanding mainstream acceptance and regulatory developments in the cryptocurrency space. Last week, former President Donald Trump signed the GENIUS Act, the first major federal legislation regulating cryptocurrency, which establishes a framework specifically for the $250 billion stablecoin market.
With millions of merchants worldwide already using PayPal, the integration of broad crypto payment options could accelerate the adoption of digital currencies in everyday commerce.
Mary Cunningham is a reporter for CBS MoneyWatch specializing in business and finance coverage.