PayPal Expands Crypto Payments With Binance, XRP Support

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PayPal has unveiled a new payment solution, “Pay with Crypto,” that enables U.S. merchants to accept over 100 cryptocurrencies through major digital wallets, including Binance, MetaMask, and Coinbase. The service will initially charge a promotional 0.99% transaction fee, set to rise to 1.5% after the first year.

According to PayPal, the feature will be rolled out to U.S. merchants in the coming weeks and will support leading cryptocurrencies such as Bitcoin, Ethereum, Solana, BNB, and XRP. Stablecoins like USDT and USDC will also be available, alongside popular memecoins.

The integration spans multiple crypto wallets, including OKX, Kraken, Phantom, MetaMask, and Exodus, with additional partners expected over time. PayPal states that the offering covers up to 90% of the global crypto market capitalization, currently valued at around US$4 trillion.

“PayPal is simplifying cross-border commerce by connecting cryptocurrencies, wallets, and global merchants,” the company stated in a press release.

The reduced fee model is particularly appealing for businesses dealing in international sales. PayPal estimates a 90% cost reduction compared to traditional credit card processing fees. For context, U.S. businesses reportedly paid an average fee of 1.57% in 2024 for credit card transactions.

In addition to lower fees, merchants may benefit from increased customer reach, faster settlement times, and rewards for holding PYUSD, PayPal’s U.S. dollar-pegged stablecoin.

The company also confirmed that PayPal payments are now active through its partner MoonPay across most of the European Union and the UK. This means users in 24 EU countries, plus the UK, can purchase crypto using PayPal. Full rollout is expected soon, excluding Croatia, Hungary, and Iceland.

PayPal executives also confirmed that the company plans to expand the feature to large enterprise merchants globally, although no official timeline has been provided.

“Using PayPal’s open platform, businesses can accept crypto payments, reduce costs, and grow balances at 4% interest when stored as PYUSD,” said Alex Chriss, PayPal President and CEO.

With more than 650 million crypto users worldwide, PayPal’s entry into the merchant crypto payment space could signal a new wave of mainstream blockchain adoption.