PayPal will soon roll out functionality to allow businesses to accept over one hundred cryptocurrencies, the company has revealed. Reportedly, merchants will soon be able to accept Bitcoin, Ethereum, USDT, USDC, and many more, with the option set to go live in the coming weeks.
In terms of how it will work, when a consumer opts to pay for goods or services using cryptocurrency, the funds will automatically be converted into either fiat currency or PayPal’s own PYUSD stablecoin, before being deposited in the merchant’s account. Supposedly, transactions will settle immediately.
With job losses spiraling in the retail sector, this news will be warmly greeted by the small business community. By opening up a growing and potentially lucrative new customer base, it hands merchants a vital lifeline. At the same time, crypto advocates will be pleased by the backing of a major payments provider after a mixed year in fortunes.
PayPal to Allow Businesses to Accept Crypto, Company Reveals
PayPal is on the verge of letting customers accept crypto as a form of payment, the company has confirmed. In the coming weeks, merchants will have the option to accept over one hundred different cryptocurrencies at the checkout, including the likes of Bitcoin, Ethereum, and more.
It’s estimated that there are 650 million cryptocurrency users around the world, with a global market size that is projected to reach $11.71 billion by 2030, according to Grand View Research.
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Frank Keller, general manager of large enterprise and merchant platform at PayPal, said in a statement: “We wanted to give small businesses access to this customer base that is growing. It’s still nascent but it’s surprising how quickly it’s picking up. When PayPal turns it on, it creates trust.”
PayPal Lays Groundwork for Crypto Future
When consumers select cryptocurrency as their preferred payment method at the checkout, their funds will automatically be converted into the relevant fiat currency, or PayPal’s stablecoin, which is known as PYUSD. Essentially, stablecoins refer to crypto tokens that are designed to maintain a stable value. From there, the funds are deposited in the merchant’s account.
Reportedly, crypto transactions will incur a 0.99% transaction fee, and will be settled instantly. For businesses that want to accept international payments, the fees could exceed 10%. Businesses can opt to convert their funds to PYUSD will earn about 4% on those balances.
The announcement forms part of a wider PayPal strategy to embed crypto assets into its offering. Said Keller: “We want to show that we’re invested in the crypto space. We want to play a bigger role, and for that to be successful we need to really scale it to the next level.”
News Offers Glimmers of Hope in Testing Climate
For small businesses, it’s great news: PayPal’s announcement will potentially unlock a lucrative new market segment. And with the sector experiencing a downturn in 2025, it’s not a moment too soon.
According to a study conducted by the National Small Business Association, nearly two-thirds of small businesses picked “economic insecurity” as their top challenge for 2025. A further 40% of respondents claimed that they’d been unable to secure the financing they need to stay afloat in a trying market.
While the economic outlook is pretty bleak, PayPal’s Pay with Crypto scheme could be a cause of optimism for small business owners. It will also be celebrated by crypto enthusiasts. The digital asset community was an early winner of Trump’s second term, but fortunes have been mixed recently. The backing of PayPal represents a big step towards a mainstream future.
