PayPal (NASDAQ:PYPL) introduces a new feature allowing users to connect personal cryptocurrency wallets to merchant checkout pages for seamless cross-border crypto payments. The process involves routing payments through exchanges like Coinbase or Uniswap. The digital asset is sold, converted to PayPal’s stablecoin, PYUSD, settled in USD, and credited to the merchant. CEO Alex Chriss emphasizes global accessibility for users worldwide.

This move signifies PayPal’s renewed commitment to digital currencies after a decline in visibility during the 2022 crypto market downturn. The company first entered the crypto space in 2020, enabling select U.S. users to trade Bitcoin and Ethereum. This functionality later extended to Venmo users. PayPal resumed its crypto push in September, enabling merchants to buy, hold, and sell digital assets directly through their business accounts.

PayPal’s stablecoin, PYUSD, has gained adoption, with its market cap increasing about 70% since January to around $850 million. The company currently limits the new crypto checkout feature to select merchants but plans to expand access to large enterprises in the U.S. and international markets without providing a specific timeline for the global rollout.

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