PayPal launches cryptocurrency payment service, supporting US merchants to accept over 100 digital currencies

On July 28, according to Fortune, PayPal announced the launch of a new payment service for small and medium-sized businesses in the United States, supporting acceptance of over 100 cryptocurrencies, including Bitcoin and Ethereum. The service will be offered through PayPal's online payment processing platform, with a transaction fee of 0.99% in the first year and adjusted to 1.50% from the second year.
During the transaction settlement process, users can connect their existing cryptocurrency wallets to the payment page, and the system will convert the cryptocurrency into PayPal stablecoin $PYUSD through Binance or a decentralized exchange, and then convert it into USD for payment to the merchant. [Techflow]