The digital payments platform is getting over 100 other cryptocurrencies as a payment option.
PayPal will soon let businesses that use its digital payments platform accept more than 100 types of cryptocurrency.
The fintech company announced today that it’s rolling out a new “Pay with Crypto” feature in the coming weeks, allowing merchants to accept popular digital currencies like Bitcoin, Ethereum, and XRP. The platform will support transactions from several major crypto wallets, including Coinbase, MetaMask, and Exodus.
PayPal CEO Alex Chriss said the new feature will help businesses by speeding up transaction times and reducing fees, particularly for international purchases.
“Imagine a U.S.-based clothing maker received an order from someone in India for a handmade gown. They used to have to worry about long wait times to receive their money and high transaction rates eating into profits,” wrote Chriss in a post on X (formerly Twitter) today.
