Crypto Checkout Comes to Main Street
PayPal has just supercharged crypto adoption with a new feature allowing all US merchants on its platform to accept over 100 different cryptocurrencies, including big names like Bitcoin and Ethereum, as well as niche tokens like TrumpCoin and Fartcoin. This marks one of the most comprehensive crypto payment rollouts by any mainstream payment provider to date.
The service is now live for small and mid-sized businesses, and will charge a promotional transaction fee of 0.99% for the first year — rising to 1.5% thereafter. Even with the bump, this still undercuts the average 1.57% credit card processing fee reported by US merchants in 2024, according to the Nilson Report.
How the Tech Works: Instant Crypto-to-Fiat
The system is wallet-agnostic, letting customers pay from any crypto wallet. PayPal then automatically sells the crypto, either through centralized exchanges like Coinbase or decentralized platforms like Uniswap, converts it into PYUSD (PayPal’s stablecoin), and finally deposits US dollars into the merchant’s account — all in real-time.
This move also ties into PayPal’s longer-term push in crypto. The company first enabled crypto trading in 2020, later expanded support to Venmo, and in 2023 launched PYUSD.
Riding the Market Rebound and Political Tailwinds
After a quieter period during the 2022 crypto winter, PayPal is turning up the heat again, buoyed by a resurgent crypto market and favorable political winds under President Trump, whose administration is pushing pro-crypto policies. The contrast is clear compared to Biden-era regulatory crackdowns.
While the new service targets U.S.-based merchants, global rollout is on the roadmap. Though no dates were given, PayPal sees this as a gateway to the $3 trillion crypto market and its 650+ million wallet holders worldwide.
The firm also claims its all-in-one stack handles compliance, KYC/AML, fraud protection, and chargeback risks, allowing merchants to accept crypto without touching the complexities of the blockchain.
PayPal vs. Everyone Else
PayPal’s latest move puts it ahead of fintech competitors like Block (Square) and Stripe, which also support crypto payments but lack PayPal’s end-to-end stack. By combining wallet integration, exchange routing, stablecoin conversion, and fiat settlement, PayPal is building what it calls “the most seamless crypto experience for merchants.”
With PYUSD acting as the compliance backbone and real-time crypto-to-fiat rails, PayPal is offering a plug-and-play crypto gateway for traditional merchants — no blockchain expertise required.
As the Trump administration opens the floodgates, and fintechs race to capitalize on a new wave of crypto adoption, PayPal appears to be taking the lead.
