In a bold move, PayPal has just officially announced a new feature that allows payments in more than 100 cryptocurrencies, from big names like Bitcoin, Ethereum, to unique memecoins like TRUMP coin or Fartcoin. This feature is now deployed to small and medium-sized businesses (SMBs) in the US, marking an important milestone in the roadmap to popularizing cryptocurrencies in the global commerce ecosystem.
From Digital Assets To USD In Just One Click
Users can easily pay using their crypto wallets. The PayPal system then automatically converts the digital assets into PYUSD – a stablecoin issued by PayPal itself, and then converts it into US dollars (USD) for the seller. This process is seamless and secure, and does not require the seller to have in-depth knowledge of blockchain technology or the cryptocurrency market.
Preferential Transaction Fees – Competitive with Credit Cards
To encourage businesses to adopt this new method, PayPal applies a super preferential fee of only 0.99% in the first year, and 1.5% from the second year. This is a much more attractive number than the average 1.57% credit card fee in the US in 2024 (according to Nilson Report).
This helps small businesses save significantly on operating costs and gives them more flexibility in choosing the right payment method for international customers.
Global Ambition: Open to Borderless Trade
According to CEO Alex Chriss, PayPal's vision does not stop at the domestic market. He shared:
“Imagine a shopper in Guatemala wants to order a special gift from a small shop in Oklahoma. With PayPal’s open platform, that business can accept payments in cryptocurrency.”
This is a long-term strategy to turn cryptocurrencies into a practical global means of payment, opening a new era for small businesses – especially those with the potential to grow across borders.
The Future Belongs to Those Who Dare to Innovate
PayPal’s move to open the door to cryptocurrency payments is a huge game changer for small businesses, not only helping them reach global customers, but also saving them money and improving the checkout experience.
For businesses in Vietnam, this is the golden time to act. Join HVA Group on the path of digital financial integration, exploring new potential from the most advanced payment solutions.
