PayPal has launched a new initiative, “Pay with crypto”, aimed at streamlining global trade and considerably reducing the costs of cross -border transactions, according to a July 28 rack.
According to the company, the service sellers offer a 90% reduction in international transaction costs compared to traditional credit card processors.
Pay with crypto
This is made possible by immediate conversions of crypto in Fiat or PayPal USD (Pyusd), are native stablecoin. The platform supports more than 100 cryptocurrencies, including Bitcoin and Ethereum, and is compatible with large portfolios such as Coinbase and Metamask.
PayPal estimates that this movement opens access to more than 650 million crypto users worldwide, so that sellers can tap into a fast -growing digital assets economy.
Alex Chriss, President and CEO of PayPal, emphasized the potential of the program to eliminate long -term barriers in international trade.
He said:
“Imagine that a shopper in Guatemala buys a special gift from a trader in Oklahoma City. With the help of the open platform of PayPal, the company can accept crypto for payments, increase their profit margins, pay lower transaction costs, gain almost immediate access to yields and allow funds to grow at 4%” “
“Pay with crypto” consolidates Fiat and Crypto payments in a single interface, giving consumers flexible payment options and at the same time enable sellers to reach global markets. It also corresponds to the broader efforts of PayPal to expand the use of the Stablecoin and to stimulate financial efficiency.
The initiative follows recent developments, including PayPal’s partnership with Fiserv to promote the global acceptance of Stablecoin.
PayPal World
In the meantime, the company recently launched ‘PayPal World’, a new platform designed to connect large digital portfolios and to simplify cross -border trade.
The initiative will debut with interoperability between five important players, including PayPal, Venmo, TenPay Global, NPCI International (UPI) and Mercado Pago.
According to the company, this reinforces its dedication to simplified, cheap digital trade. Chriss said:
“These innovations simplify not only the payments – they stimulate the growth of merchant navy, expand the choice of consumers and lower the costs. This is the future of inclusive, grenzose trade, and we are proud to lead it.”
