PayPal launches "Pay with Crypto" and reduces cross-border fees by 90%

Written by: Blockchain Knight

According to a statement on July 28, PayPal has launched a new program called "Pay with Crypto", which aims to streamline global business processes and significantly reduce cross-border transaction costs.

The company says the service reduces international transaction fees for merchants by 90% compared to traditional credit card processors.

This breakthrough in functionality is made possible by instant exchange technology for crypto-to-fiat or PayPal's native stablecoin, PayPal USD (PYUSD). The platform supports over 100 cryptocurrencies, including Bitcoin, Ethereum, and is compatible with mainstream wallets like Coinbase, MetaMask, and more.

PayPal expects this move to reach more than 650 million cryptocurrency users worldwide, helping merchants enter the rapidly growing digital asset economy.

Alex Chriss, President and CEO of PayPal, emphasized that this initiative promises to remove long-standing barriers in...

14.25K

The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.