PayPal Taps $3?Trillion Crypto Market
The new service supports 100+ cryptocurrencies including Bitcoin (BTC?USD), Ethereum (ETH?USD) and wallets like Coinbase (NASDAQ:COIN) and MetaMask.
Warning! GuruFocus has detected 4 Warning Sign with PYPL.
At a 0.99% fee, Pay with Crypto cuts transaction costs by up to 90% versus international credit cards, says CEO Alex Chriss, removing barriers and helping every business of every size achieve their goals.
Pay with Crypto will be available to US merchants in the coming weeks, offering instant settlement to broaden global reach without the usual integration headaches.
Merchants can accept payments in crypto, convert on the fly and receive dollars in their PayPal accountssidestepping volatility and complex wallet management. This move could make PayPal the go?to network for cross?border sales and put pressure on legacy payment processors to slash fees.
Why it matters: Ultra?low fees and broad crypto support could lock merchants into PayPal's ecosystem and reshape global e?commerce payments.
Investors will be watching merchant sign?ups and fee revenue growth once the service goes live.
This article first appeared on GuruFocus.
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