PayPal Launches Crypto Checkout Tool: 100+ Tokens, 0.99% Fee
PayPal has launched its crypto checkout tool for US merchants (excluding New York), enabling businesses to accept over 100 cryptocurrencies, such as BTC, ETH, SOL, USDC, USDT and XRP. The PayPal crypto checkout tool integrates with major wallets including Coinbase Wallet, MetaMask, OKX, Kraken, Binance, Phantom and Exodus. Customer payments in crypto are instantly converted at checkout into PYUSD stablecoin or fiat currency. This shields merchants from price volatility and expands stablecoin payments. The service charges a 0.99% transaction fee, much lower than typical card rates. By leveraging PYUSD for cross-border payments (market cap up 80% YTD to $894 million), PayPal aims to streamline global crypto settlements. This launch follows similar offerings from Stripe and Coinbase and builds on stablecoin clarity under the GENIUS Act. It intensifies competition in merchant crypto payments across retail, e-commerce, travel and real estate sectors.
Bullish
The launch of PayPal’s crypto checkout tool and automatic conversion into PYUSD stablecoin is likely to boost PYUSD demand as merchants adopt it for payments. In the short term, the low 0.99% fee and volatility protection will attract more businesses, lifting PYUSD transaction volume and market attention. Over the long term, integration with major wallets and regulatory clarity under the GENIUS Act can cement PYUSD’s role in global stablecoin payments, enhancing liquidity and network effects. This competitive move against other stablecoin solutions underpins a bullish outlook.