PayPal and the National Cryptocurrency Association said a new joint study found crypto payments have moved into regular commercial use in the U.S. The research surveyed 619 payment strategy decision-makers across several industries and reported that 4 in 10 merchants already accept cryptocurrency payments, a sign that crypto is no longer limited to niche payment experiments.
Hospitality, travel, and digital sectors lead adoption
The study said the strongest adoption is coming from hospitality and travel, followed by digital goods and gaming companies, then retail and e-commerce businesses. Merchants in the survey also said crypto payments now account for 26% of their total sales. That figure suggests crypto is becoming a meaningful payment channel for businesses that have already integrated it.
Merchant feedback in the survey points to clear customer demand. 9 out of 10 merchants said they had received questions from customers about accepting crypto payments, while 4 out of 5 merchants said they expect crypto payments to become common within the next five years. The data indicates that adoption is being pushed not just by companies testing new tools, but by users actively asking for another way to pay.
Speed and customer acquisition rank as top reasons
Among the reasons merchants gave for accepting crypto, transaction speed ranked first and attracting new customers ranked second. The study also listed stronger security and privacy for customers as major factors. For merchants weighing payment options, practical benefits appear to be leading the decision.
Interest is especially high among younger age groups. Millennials were the most interested in paying with crypto at 77%, followed by Gen Z at 73%. The report ties that demand to digital-native consumers, who are treating crypto less as a novelty and more as a payment method that can fit into everyday use.
PayPal says crypto is moving beyond the trial phase
May Zabaneh, Vice President and General Manager of Crypto at PayPal, said the company sees crypto payments shifting from experimentation into everyday commerce. She said adoption is being driven by demand for faster and more flexible ways to pay, and that businesses often see real value once they start accepting crypto. Zabaneh added that if crypto payments are offered in a way that feels familiar, similar to cards or online payments, they can help businesses reach new customers and gain faster access to funds.
PayPal has been expanding its footprint in this segment by allowing merchants to accept crypto through its platform and by launching its own stablecoin, PYUSD. The report said PYUSD has reached a market capitalization of more than $3.5 billion, showing that PayPal’s crypto payment strategy now extends beyond merchant checkout tools.