PayPal Pushes Crypto, Stablecoin Payments into the Mainstream, Cutting Costs and Expanding Global Commerce

PayPal (NASDAQ: PYPL) is accelerating the adoption of digital currencies in commerce by enabling fast, low-cost international payments through its stablecoin, PayPal USD (PYUSD). Businesses and consumers can now send PYUSD across borders in seconds, with lower fees and greater transparency compared to traditional payment rails.

Pay with Crypto, powered by PayPal, connects merchants to a $3+ trillion market, by enabling instant crypto to stablecoin or fiat conversion. Supporting transactions across 100+ cryptocurrencies and wallets such as Coinbase and MetaMask, the solution expands merchant revenue opportunities and taps into a global base of more than 650 million crypto users3. Additionally, with a transaction rate of 0.99%4, Pay with Crypto decreases the cost of transactions by up to 90% when compared to international credit card processing.

“Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations. Today, we’re removing these barriers and helping every business of every size achieve their goals,” said Alex Chriss, President and CEO, PayPal.

“Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City. Using PayPal’s open platform, the business can accept crypto for payments, increase their profit margins, pay lower transaction fees, get near instant access to proceeds, and grow funds stored as PYUSD at 4%5 when held on PayPal.”

Leveraging the Ethereum blockchain, PYUSD delivers the benefits of public blockchain technology – including speed, programmability, and security – while maintaining the stability of the U.S. dollar. This combination positions PayPal as a major player in modernizing cross-border payments for the digital economy.

“Stablecoins like PYUSD are essential to realizing the promise of blockchain technology in payments,” said Jose Fernandez da Ponte, Senior Vice President of the Blockchain, Cryptocurrency and Digital Currencies group at PayPal.

“We’re removing complexity and driving meaningful cost reductions for global commerce.”

Key Highlights:

• Fast, Affordable Transfers: PYUSD transactions settle in seconds on-chain, enabling real-time payments between wallets and across borders.
• Lower Fees: Users bypass costly remittance and cross-border fees typically associated with traditional financial systems.
• Seamless Integration: Merchants and developers can integrate PYUSD using PayPal’s APIs or interact directly via smart contracts on Ethereum.

Pay with Crypto advances PayPal’s mission to transform commerce by integrating crypto and digital currencies into a unified platform that connects fiat and digital payments. It offers consumers diverse payment options and unlocks global growth for merchants.

PayPal empowers U.S. merchants to accept crypto payments, improve efficiency, attract customers, earn rewards for PYUSD held with PayPal, and send faster, low-cost payments to freelancers and vendors using PYUSD. Recently the company also announced an agreement with Fiserv to expand stablecoin use globally to drive greater business efficiency.

PayPal is also working with a growing ecosystem of wallets, exchanges, and payment providers, ensuring PYUSD is accessible wherever digital dollars are needed. Since launching in August 2023, PYUSD has seen increased adoption across Web3 commerce, gaming, and decentralized finance (DeFi).

The stablecoin is fully backed by U.S. dollar deposits, U.S. Treasuries, and similar cash equivalents, with monthly attestations published by Paxos Trust Company.

As part of its broader digital currency strategy, PayPal believes stablecoins will play a critical role in expanding financial inclusion, reducing friction in payments, and unlocking new commerce opportunities globally.

For more information about PYUSD and PayPal’s digital currency initiatives, visit https://www.paypal.com.

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