PayPal is launching a new feature for US merchants to accept payments with over 100 cryptocurrencies, including Bitcoin, Ether, Solana, USDt, USD Coin, and XRP. Transactions will be converted to PayPal’s stablecoin or fiat currency, with a 0.99% fee. The move aims to simplify cross-border transactions for small and medium-sized businesses.

The new feature comes as PayPal’s stablecoin PYUSD’s market cap increased by nearly 80% since January 1. Competitors like Stripe have also been rolling out new features for cross-border crypto payments. Fintech payment platforms are expanding crypto payment offerings, while centralized exchanges like Coinbase have long offered merchant tools.

Regulatory clarity, such as the recent passage of the GENIUS Act, is driving growth in stablecoin and crypto payments. Small businesses in various industries are increasingly accepting crypto payments for their speed and lower costs. The move towards crypto payments is gaining momentum worldwide, with industries like food and beverage, retail, travel, e-commerce, and real estate embracing the trend.

Read more at Cointelegraph: PayPal Launches Crypto Checkout Tool, Adds Support for 100+ Tokens