New PayPal Crypto Feature Supports Over 100 Tokens

Key Takeaways

• PayPal crypto checkout lets U.S. merchants accept over 100 cryptocurrencies.

• Transactions are auto-converted to PYUSD or USD to avoid market volatility.

• Merchants pay just 0.99% per transaction, far less than traditional credit card fees.

• The feature currently excludes New York-based merchants.

• PayPal is competing with Stripe and Coinbase in the global crypto payments space.

What Is PayPal Crypto Checkout?

PayPal’s latest innovation introduces a crypto checkout tool that empowers merchants to accept a wide range of cryptocurrencies at the point of sale.

Source: prnewswire.com

From Bitcoin and Ethereum to Solana and stablecoins like USDT and USDC, the platform ensures fast, secure, and borderless payments.

Supported Wallets & Tokens

The new system integrates with leading crypto wallets such as:

• Coinbase Wallet

• MetaMask

• Binance

• Kraken

• OKX

• Phantom

• Exodus

Merchants can now accept payments in over 100 tokens, including:

• Bitcoin (BTC)

• Ethereum (ETH)

• Solana (SOL)

• Tether (USDT)

• USD Coin (USDC)

• XRP

At the time of payment, all cryptocurrency transactions are automatically converted into PayPal USD (PYUSD) or fiat, eliminating concerns over crypto price volatility.

Transaction Fees & Merchant Benefits

One of the most compelling features of the PayPal crypto checkout tool is its low transaction fee of just 0.99%, significantly cheaper than the typical 1.75% to 3% fees charged by credit card processors like Visa or Mastercard.

Advantages For Merchants

• Instant conversion to PYUSD or USD

• Lower costs for international transactions

• No exposure to crypto market fluctuations

• Access to a growing crypto customer base

PYUSD’s Price Action

Source: CoinGecko

This feature is especially advantageous for small and medium-sized enterprises (SMEs) looking to tap into global markets without facing high transaction costs and complex currency conversions.

U.S. Launch & Exclusions

While the feature is currently available only in the United States, New York residents are excluded due to regulatory restrictions. Still, this roll-out sets the stage for broader adoption as regulatory clarity continues to evolve.

Competing With Stripe, Coinbase, & Others

PayPal is entering a competitive but rapidly growing space. Stripe, for example, launched its own stablecoin payment service for USD Coin in 2024, quickly gaining adoption in over 70 countries. In collaboration with Coinbase, Stripe has also integrated fiat-to-crypto services into its ecosystem.

Meanwhile, Coinbase has been active in developing crypto payment infrastructure. Its Coinbase Commerce platform allows merchants to accept crypto via Shopify and WooCommerce, and in 2024, the company introduced the x402 protocol, enabling seamless API-based stablecoin payments via standard web infrastructure.

Regulatory Support Fuels Growth

The release of PayPal’s crypto checkout tool follows the GENIUS Act, a key piece of legislation that provides regulatory clarity for stablecoin integration.

With more governments embracing blockchain and digital assets, platforms like PayPal are now better positioned to expand their crypto offerings responsibly and legally.

FAQ

What is PayPal crypto checkout?

It’s a new feature that allows U.S.-based merchants to accept payments in over 100 cryptocurrencies, which are instantly converted to PayPal USD or fiat at checkout.

Can merchants hold crypto with PayPal?

No. The tool converts crypto payments into PYUSD or fiat instantly to protect merchants from price volatility.

How much are PayPal’s crypto transaction fees?

Merchants pay a flat fee of 0.99% per crypto transaction, significantly lower than standard credit card fees.

Which wallets are supported?

The feature works with popular wallets like MetaMask, Coinbase Wallet, Kraken, OKX, Binance, and more.

Is this feature available internationally?

Currently, it is only available to merchants in the United States, excluding New York.