U.S. business accounts on PayPal now equipped with capabilities to purchase, hold, and sell cryptocurrencies.
PayPal Expands Cryptocurrency Services to U.S. Businesses
PayPal, the digital payments giant, has taken another significant step in its crypto journey by introducing new features for U.S. business clients. As of July 28, 2025, these clients can now buy, hold, and sell cryptocurrencies, with over 100 tokens supported, including Bitcoin, Ethereum, and USDC.
Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal, commented on the announcement, stating that this move is part of the company's strategy to increase crypto utility for U.S. clients.
The new functions are an extension of the services offered to PayPal and Venmo consumers, who were initially enabled to buy, hold, and sell cryptocurrency directly from their accounts in 2020. PayPal has been advancing its crypto strategy over the past three years since launching the PayPal Stablecoin, initially built on Ethereum and recently expanded to Solana.
PayPal's decision to extend cryptocurrency services to business clients was driven by demand from business owners. However, the service is not yet available to residents of New York State, as it awaits regulatory approval from the New York Department of Financial Services (NYDFS).
The details of the supported crypto tokens for the new business service were not specified in the announcement. PayPal has, however, enabled U.S. merchants to transfer cryptocurrency on-chain to third-party eligible wallets externally. Business account holders can now send and receive supported crypto tokens to and from external blockchain addresses.
The new "Pay with Crypto" functionality aims to reduce international payment fees by up to 90% and offers near-instant settlement. It converts crypto payments into PayPal's stablecoin (PYUSD) instantly, enabling merchants to receive U.S. dollars.
While the service is rolling out broadly across the U.S., residents of New York must wait for regulatory approval from the NYDFS before accessing this crypto payment feature. No specific timeline for this approval or availability in New York has been announced in the available sources.
References: [1] PayPal. (2025, July 28). PayPal Announces Crypto Services for U.S. Businesses. [Press Release]. Retrieved from https://www.paypal-mediacenter.com/news/2025/paypal-announces-crypto-services-for-us-businesses
[2] O'Brien, K. (2025, July 29). PayPal's Crypto Payment Feature Available Across U.S., But Not Yet in New York. Coindesk. Retrieved from https://www.coindesk.com/paypals-crypto-payment-feature-available-across-us-but-not-yet-in-new-york
[3] PayPal. (2025, July 28). PayPal Launches 'Pay with Crypto' for U.S. Merchants. [Press Release]. Retrieved from https://www.paypal-mediacenter.com/news/2025/paypal-launches-pay-with-crypto-for-us-merchants
[4] Fernandez da Ponte, J. (2025, July 28). PayPal's Crypto Strategy: A Journey of Three Years. [Interview]. Retrieved from https://www.cnbc.com/2025/07/28/jose-fernandez-da-ponte-on-paypals-crypto-strategy-a-journey-of-three-years.html
[5] PayPal. (2025, July 28). PayPal's New Crypto Services: What Business Owners Need to Know. [Whitepaper]. Retrieved from https://www.paypal.com/content/dam/paypal/en_US/files/whitepaper/paypal-crypto-services-whitepaper-en_US.pdf
In light of PayPal's announcement, the expansion of cryptocurrency services now includes U.S. businesses, allowing them to buy, hold, and sell various cryptocurrencies such as Bitcoin, Ethereum, and USDC. Additionally, news outlets report that PayPal's new digital payment feature also involves technology for near-instant crypto settlement and significant reduction in international payment fees.
