NEW YORK – PayPal stunned the world with latest crypto and its not payment update but a shift in global financial landscape. The finance giant rolled out upgrade to its crypto platform, allowing businesses to accept payments in over 100 cryptocurrencies.
From Bitcoin to Solana and everything in between, this massive leap into digital asset space brings full support for leading wallets like MetaMask, Binance, Coinbase, and Kraken, offering seamless payment processing for millions of crypto-savvy consumers.
To poeple’s surprise, every transaction is instantly converted into US dollars or PayPal’s own stablecoin, PYUSD, with a jaw-droppingly low 0.99% transaction fee.
With new changes, PayPal claims this upgrade cuts cross-border costs by up to 90pc, unlocking access to $3 trillion global crypto economy and its 650 million active users.
The company now allows external wallet transfers and is doubling down on PYUSD, its dollar-backed stablecoin launched in 2023 and now turbocharged by integration with the high-speed Solana blockchain. By 2025, PYUSD is set to go global via PayPal’s massive networks, including Hyperwallet.
From e-commerce platforms to service providers, the attraction is clear with lower fees, instant fund access, and up to 4pc annual yield on stablecoin balances. And with consumer demand for crypto payments exploding, small and mid-sized businesses are tapping into entirely new revenue streams.
