PayPal allows small US businesses to accept 100 cryptocurrencies on their platforms, including Bitcoin, Ethereum and Solana on their networks. announcement Monday.
Paying with Crypto will allow users to convert Crypto to Stablecoins or other Fiat currencies, the company said. It supports many wallet transactions, including Coinbase, Kraken, Metamask.
“Companies of all sizes face incredible pressure when they grow globally, from increasing costs to complex integration to accept international payments.” Alex ChrisPayPal’s president and CEO said in a statement. “Today, we’re removing these barriers and helping all businesses of all sizes achieve their goals.”
This service is because PayPal continues to expand its cryptographic services.
Last Wednesday, San Jose-based PayPal said it plans to introduce a new platform in the fall. The World of Paypalwhich links domestic digital wallets to a global network of billions of users.
PayPal’s Pyusd, which debuted in 2023, has a market capitalization of over $901, andHe then stiffens Allowed Users exchange PYUSD for dollars and make international payments via payment platform Xoom.
PayPal users have access to Crypto since late 2020 after allowing users to buy, sell and hold four cryptocurrencies: Vitocoin, Ethereum, Bitcoin Cash and Litecoin, but will not move their funds to external destinations. PayPal customers are It’s possible now Transfer such digital coins elsewhere.
The company said in a statement that payments with crypto-people will allow merchants to increase profit margins, reduce transaction fees, have immediate access to revenues, and increase the funds stored as PYUSD when held on PayPal.
Decryption I contacted PayPal for additional comments.
Chriss noted last week’s PayPal World announcement, bringing together five of the world’s biggest digital wallets on a single platform, adding that the company is “breaking years of global commerce barriers.”
“These innovations don’t just simplify payments, they drive merchant growth, expand consumer choices, and reduce costs,” he said. “This is an inclusive, boundless future of commercial transactions and we are proud to guide it.”
Bitcoin has been trading for almost $118,400 over the past 24 hours, according to Coingecko.