PayPal is making it easier to use cryptocurrency for merchant payments across international borders.

Pay With Crypto integrates crypto and digital currencies into a unified platform that connects fiat and digital payments. The company said it will support near-instant settlement and seamless international transactions, and, most important, reduce transaction fees by nearly 90%.

PayPal’s new platform will support transactions across more than 100 cryptocurrencies and wallets, including Coinbase and MetaMask. Pay With Crypto will have access to a global user base of more than 650 million crypto users.

“Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations. Today, we’re removing these barriers and helping every business of every size achieve their goals,” said Alex Chriss, president and CEO of PayPal, in a statement. “Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City. Using PayPal’s open platform, the business can accept crypto for payments, increase its profit margins, pay lower transaction fees, get near instant access to proceeds, and grow funds stored as PYUSD (PayPal USD) at 4% when held on PayPal.” 

Initially available to U.S. merchants, Pay With Crypto enables them to improve efficiency, attract new customers, earn rewards for using stablecoin PYUSD held with PayPal, and send faster, low-cost payments to freelancers and vendors using PYUSD. 

The company recently announced an agreement with Fiserv that saw them expand stablecoin use globally, driving greater business efficiency.