PayPal Expands Crypto Payments: What's Next for Altcoins?
PayPal has announced a significant expansion of its “Pay with Crypto” platform, now enabling US merchants to accept over 100 cryptocurrencies. This update promises instant transaction settlements and a reduction in international fees by up to 90%.
PYUSD Takes Center Stage
While PayPal’s stablecoin, PYUSD, is an obvious beneficiary, the broader impact on altcoins is noteworthy. Upon the announcement, PYUSD trading volume surged by 158%, indicating strong initial interest.
Businesses using PayPal can now earn 4% APY on PYUSD held in their wallets, benefit from immediate access to funds, and bypass traditional banking delays and high fees.
“Using PayPal’s open platform, the business can accept crypto for payments, increase their profit margins, pay lower transaction fees, get near instant access to proceeds, and grow funds stored as PYUSD at 4%,” said Alex Chriss, CEO of PayPal.
PayPal aims to establish PYUSD as a key asset for global commerce, further supported by their partnership with Fiserv to broaden stablecoin adoption worldwide.
Altcoins Poised for Growth
Several altcoins are positioned to capitalize on PayPal's expanded crypto payment options:
- Ethereum (ETH): As the base for PYUSD and many other tokens, Ethereum stands to benefit from increased transaction volume.
- Arbitrum (ARB): Another key blockchain facilitating PYUSD transactions, Arbitrum is expected to see heightened activity.
- Solana (SOL): Integrated with PayPal, Solana is gaining traction, including support for Solana-based meme coins.
“Fintech giant PayPal now allows US merchants to accept over 100 cryptocurrencies, including Solana-based meme coins like TRUMP and FARTCOIN,” reported SolanaFloor.
The inclusion of meme coins signals PayPal's intention to support a diverse range of crypto assets.
Broader Altcoin Benefits
Beyond the major players, many altcoins directly supported for payments may experience increased demand. PayPal’s integration supports wallets like Coinbase, MetaMask, Phantom, OKX, Kraken, and Binance, encompassing over 100 cryptocurrencies, including BTC, ETH, USDT, USDC, XRP, BNB, and SOL.
This broad acceptance of coins could introduce new utility to altcoins that previously had limited real-world use.
PayPal’s expansion represents a move toward crypto-native commerce, offering businesses worldwide access to borderless payments and greater financial accessibility.
“By enabling seamless cross-border crypto payments, we’re breaking long-standing barriers in global commerce. These innovations don’t just simplify payments—they drive merchant growth, expand consumer choice, and reduce costs,” Chriss stated.
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