The new service will enable merchants to reach more than 650 million crypto users globally, according to the crypto data aggregator, CoinGecko, PayPal says. To help make the new payment option an attractive alternative to other cross-border payment options,

PayPal has introduced “Pay with Crypto” to enable instant settlements and lower fees for global merchants and crypto users.

PayPal has taken a key step in the mass adoption of cryptocurrencies with the launch of Pay with Crypto, a new feature that allows merchants to receive payments in cryptoassets instantly converted to stablecoins or traditional currencies.