Head of crypto May Zabaneh says the new feature cuts costs for merchants, gives customers more ways to spend their digital assets, and marks the next stage in PayPal’s evolution.
PayPal is doubling down on digital assets.
The payments giant has launched Pay with Crypto, a new checkout option that lets merchants accept more than 100 cryptocurrencies and settle transactions in either traditional fiat currency or PYUSD, PayPal’s own U.S. dollar–backed stablecoin.
In an interview with TheStreet Roundtable’s Jackson Hinkle, May Zabaneh, PayPal’s head of crypto, said the company wants to build a bridge between traditional payment systems and the fast-growing world of digital assets.
“We are super excited about Pay with Crypto,” Zabaneh said. “It allows merchants to accept more than one hundred cryptocurrencies across multiple wallets. They can settle in fiat or PYUSD, which gives them access to a global crypto user base and lowers their processing costs.”
For merchants, that translates to cheaper transactions and access to a massive pool of potential customers. For users, it means their crypto can finally be spent more easily in everyday life.
“It connects all those customers who already have crypto with our merchant base,” Zabaneh added. “It’s a real example of how to bring together traditional and crypto payments.”
Zabaneh also confirmed that merchants can choose to hold major cryptocurrencies like Bitcoin and Ethereum directly, and that PayPal is offering rewards for both consumer and merchant PYUSD holders.
Stablecoin market keeps growing
The global stablecoin market is now worth around $312 billion, with about $146.6 billion in 24-hour trading volume, according to CoinGecko. PYUSD has climbed to a market cap of roughly $3.32 billion, giving PayPal a little over 1% of the entire stablecoin supply—a clear sign that PayPal’s crypto push is beginning to show up on-chain.
Stablecoins are digital tokens designed to maintain a steady value, usually pegged to the U.S. dollar. They behave like digital cash, offering the speed of crypto without the wild price swings of assets like Bitcoin.
“We are giving both sides of our network the ability to earn and spend,” Zabaneh said. “We start by asking what matters most to merchants and consumers, and we build from there.”
Seamless checkout, familiar interface
One of PayPal’s biggest selling points is simplicity. Pay with Crypto works through the same PayPal checkout button already used by millions of merchants. Customers simply choose crypto instead of fiat.
For an industry known for technical complexity, confusing interfaces, and high levels of fraud, PayPal sees this as a way to let everyday users interact with crypto safely and easily.
“With our PayPal checkout—the branded button you see on millions of merchants—you can now use your crypto to pay,” Zabaneh said. “You’re already starting to see the use cases emerge, and we’re really excited.”
Zabaneh believes Pay with Crypto represents the next chapter in PayPal’s evolution, one where digital assets become a standard part of the global payments system.
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