PayPal allows U.S. merchants to accept payments in over 100 cryptocurrencies

ChainCatcher news, according to Fortune, PayPal has announced the launch of a new payment service for small and medium-sized merchants in the United States, supporting payments in over 100 cryptocurrencies, including Bitcoin and Ethereum. This service will be provided through PayPal's online payment processing platform, with a transaction fee rate of 0.99% for the first year, adjusting to 1.5% from the second year onwards.

During the transaction settlement process, users can connect their existing cryptocurrency wallets to the payment page, and the system will convert the cryptocurrency into the stablecoin PYUSD through Binance or decentralized exchanges, which will then be converted into USD for payment to the merchants.