PayPal has taken the next step in its embrace of cryptocurrency, launching “Checkout with Crypto” to US customers.
The company recently began allowing customers to own, trade and hold cryptocurrency, but now customers can use their currency to make purchases in the US. At the time of purchase, PayPal will convert the cryptocurrency to a fiat currency, with no additional transaction fees.
“As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet,” said Dan Schulman, president and CEO, PayPal. “Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies.”
PayPal’s move comes just a day after Visa announced it was accepting USD Coin for settlement transactions.