PayPal launches a new cryptoactive payment service

After years of Expectations around cryptoactives, the online payment giant Paypal Frontally, it has committed itself to the democratization of this type of means of payment. Last example with Paypal's announcement of the launch of a new cryptocurrency payment service addressed directly to US traders.

FACTS

• Paypal has just launched a new service allowing American traders to accept more than 100 cryptocurrency as a means of payment to validate their customers' purchases.

• The service was called "Pay with Crypto". In particular, it promises to facilitate cross-border payments thanks to compatibility with many cryptocurrency, but also several digital Wallets.

• In particular, the service is compatible with the CoinBase and MetaMask portfolios at its launch but plans to integrate more services later.

• The great promise of Paypal's new service is also to reduce transaction fees by up to 90% for accepted traders.

ISSUES

• Valorizing its status : As a global reference for digital payments, PayPal is now seeking to maintain its status as a pioneer and dominant player in payment. But for this, the American actor opts for different strategies. Both on the geographical extension of its services (the online payment giant has just formalized its new service PayPal World) but also, as with cryptoactives, relying on alternative solutions. "Pay with Crypto" carries this double promise.

• Pursue democratisation of cryptos : If PayPal had already embarked on this path by choosing to serve end consumers, its new solution is now aimed specifically at American traders. This positioning should allow the giant to cover all cryptographic needs.

PERSPECTIVE

• Paypal is not on its first initiative to engage in the democratization of cryptocurrency. After launching its stablecoin to democratize the use of this type of asset to the publicThe online payment giant was focusing on Blockchain and cryptocurrency for rebound with new projects in 2024.

• Paypal's commitments, notably through the launch an incentive program for environmentally friendly bitcoin mining in April 2024. This position also allowed it to differentiate somewhat from competition in a particularly coveted market.

• These efforts on the subject are still ongoing today as Paypal was approaching Coinbase last April, marking the extension of their existing partnership. The common objective displayed The two partners were then to increase the adoption, distribution and use of Paypal USD stables.

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