Global payment giant PayPal announced a new feature that allows users to pay using cryptocurrency. Thanks to this method, which was first implemented in the USA, sellers serving in the Web3 field will be able to accept cryptocurrency payments via PayPal. This new integration is considered a continuation of the cryptocurrency trading that PayPal supports on its platform. With the new application of the online payment giant, decentralized applications and NFT marketplaces now have a fast and solid solution for users’ crypto trading.
The new service is also expected to contribute to security in the Web3 field. So much so that projects using this service will also be able to benefit from PayPal’s effective methods against fraud. This will enable users to trade in a safer environment and is seen as an important advantage for the growth of the crypto ecosystem.
The new service offered by PayPal also allows US crypto users to convert their crypto assets into dollars directly from their wallets to PayPal. Thus, crypto to fiat conversion becomes much easier via PayPal. While this move by PayPal reflects the increasing demand for crypto transactions, it can also be considered important for the adoption of cryptocurrencies in payment transactions. Although the service is currently valid within the borders of the USA, it is important for it to be used in countries where crypto payments are not restricted in the future, in order for the industry to be more integrated into the mainstream and to interact with more people and institutions.