PayPal reported significant growth over the past week, advancing nearly 5% in stock value, following major announcements centered around its expanding cryptocurrency services.
PayPal Extends Crypto Capabilities to 100 Cryptocurrencies
On Monday, payments leader PayPal formally announced the elevation of its cryptocurrency offerings. The launch of the “Pay with Crypto” feature empowers businesses across the U.S. to accept Bitcoin, Ethereum, and a comprehensive list of 97 other cryptocurrencies.
This initiative enables merchants to convert customer cryptocurrency payments into stablecoins or fiat currency and facilitates transactions via integrations with several major crypto wallets, including Coinbase Wallet, MetaMask, and Kraken.
“Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations. Today, we’re removing these barriers and helping every business of every size achieve their goals.”
— Alex Chriss, President and Chief Executive Officer, PayPal
PayPal users are now able to transfer their supported cryptocurrencies to external digital wallets, a development amplified by the Pay with Crypto feature, which is claimed by PayPal to offer advantages such as improved profit margins, potentially lower transaction costs, faster settlement, and a 4% annual interest rate on funds stored as the firm’s stablecoin PYUSD.
In Context: A Growing Crypto Strategy
PayPal’s expansion into crypto payments builds upon its existing presence. The company previously allowed users to buy, sell, and hold four cryptocurrencies (BTC, ETH, BCH, LTC) since late 2020, but transfers to externaladdresses were not permitted. The recent policychange rectifies this limitation.
PayPal’s broader strategy includes its PYUSD stablecoin, which boasts a market capitalization exceeding $901 billion. This stablecoin gained international relevance via a tie-up with Xoom for cross-border payments. Last week, PayPal announced plans for a new platform, PayPal World, set to launch this fall. This platform aims to connect major digital wallets (Coinbase, Cash App, Venmo, Chime, Finoa) with PayPal’s global user network.
While reaching out to PayPal for further comment was unsuccessful, Chriss highlighted the significance of these developments for global commerce.
“These innovations don’t just simplify payments—they drive merchant growth, expand consumer choice, and reduce costs. This is the future of inclusive, borderless commerce, and we’re proud to lead it.”
— Alex Chriss, President and Chief Executive Officer, PayPal
Market reaction saw PayPal stock rise 0.67% in pre-market trading on Monday. Simultaneously, Bitcoin held steady around the $118,400 mark earlier on Monday morning.
