DeutschPayPal is getting serious. The payment giant is taking the next big step towards crypto adoption and now allows payments to be processed with over 100 different cryptocurrencies – directly via its platform. This means that one of the most important players in global payment processing is finally entering the crypto age.
For companies that already use PayPal as a means of payment, this means: They can now receive crypto payments that automatically appear in US dollars or as cryptocurrency in their PayPal account. The credit can then be transferred to a bank account within a very short time. Without detours, without third-party providers, without additional fees – that’s the promise.
PayPal Now also Lets You Pay with Bitcoin and Co.
With this new function, PayPal is preparing for a future in which Bitcoin & Co. are no longer just speculation objects, but are used as fully-fledged means of payment. According to the company, the integration includes over 100 coins – including well-known ones such as Bitcoin, Ethereum, Solana or Avalanche, but also smaller tokens. In addition, users can make payments directly from well-known wallets such as MetaMask or Phantom. Transfers from exchange wallets from Coinbase, Kraken, Binance or OKX are also supported.
Technically, the system is based on seamless conversion: The customer pays in their preferred cryptocurrency, and the receiving company receives the amount either in the same currency or converted directly into dollars. PayPal promises a stable and secure infrastructure, as is already used for the company’s own stablecoin PYUSD.
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The entry into crypto payment processing is not surprising. As early as October 2020, PayPal attracted attention by purchasing Bitcoin, Ethereum, Litecoin and Bitcoin Cash via its own app – but at that time without the option of transferring coins to external wallets. This restriction was later lifted. Shortly afterwards, the crypto market experienced one of the biggest rallies in its history. Bitcoin broke the 20,000 US dollar mark for the first time and rose to 64,000 dollars in just a few months.
Payment Giant Gives Crypto Adoption a Strong Boost
Now for the next step: a comprehensive payment integration that enables not only large companies but also small retailers to work with cryptocurrencies. The step is considered a milestone, especially in the USA, where digital assets are becoming increasingly important in payment transactions.
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The step could have a signal effect. While classic banks and payment service providers often act hesitantly when it comes to crypto innovations, PayPal is focusing on speed. The platform not only brings technical infrastructure with it, but also the trust of millions of users worldwide. One thing is clear: With this decision, PayPal is positioning itself at the forefront in the fight for the future of digital payment processing – and is giving global crypto adoption a strong boost. (mck)
