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PayPal, the leading company in electronic payments, has announced the launch of a game-changing feature called "Pay with Crypto," which allows merchants in the United States to accept $XRP along with a range of prominent cryptocurrencies such as Bitcoin#bitcoin (BTC), Ethereum#Ethereum (ETH), and Solana (SOL). This step, which will begin in the coming weeks, is a strong push for the adoption of cryptocurrencies in global e-commerce.
Customers will be able to use digital wallets like #Binance to make instant payments in XRP and others, as these currencies are automatically converted to PayPal's stablecoin PYUSD and then to US dollars to facilitate settlement for merchants. This process features competitive fees of 0.99% during a promotional period of one year, rising afterwards to 1.5%, with savings of up to 90% compared to traditional credit card fees.
This step is a significant achievement for XRP, known for its speed and efficiency in cross-border payments, enhancing its position as an innovative financial tool. However, the service will not be available in New York state initially due to local regulatory restrictions.
This phase confirms the shaping of the future of payments, opening new horizons for both merchants and consumers alike.
