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It’s important to distinguish how PayPal and Stripe handle cryptocurrency, as their approaches differ.

PayPal and Crypto:

• Direct Crypto Functionality:
  • PayPal allows users to buy, hold, and sell cryptocurrencies within their PayPal accounts.  
  • It also enables users to “Checkout with Crypto,” where they can use their crypto holdings to pay for online purchases at PayPal-accepting merchants. PayPal handles the conversion of crypto to fiat currency.  
  • PayPal also supports the transfering of crypto between paypal accounts, and to external crypto wallets and exchanges.  
• User-Focused:
  • PayPal’s crypto features are primarily designed for individual users to interact with cryptocurrencies within their existing PayPal ecosystem.

Stripe and Crypto:

• Business-Focused:
  • Stripe focuses on providing businesses with the tools to accept and manage cryptocurrency payments, particularly stablecoins.  
  • Stripe’s “Pay with Crypto” feature allows businesses to receive stablecoin payments from customers, with Stripe converting those stablecoins into fiat currency for the business. This mitigates the volatility risk for businesses.  
  • Stripe is also developing fiat-to-crypto onramp capabilities, and stable coin payout options.  
• Infrastructure Provider:
  • Stripe acts as an infrastructure provider, enabling businesses to integrate crypto payments into their existing payment workflows.  

Key Differences:

• Target Audience:
  • PayPal: Primarily caters to individual users.
  • Stripe: Primarily caters to businesses.  
• Crypto Handling:
  • PayPal: Allows users to hold and spend crypto directly.  
  • Stripe: Focuses on facilitating stablecoin payments and converting them to fiat for businesses.  
• Volatility Management:
  • PayPal: Users are exposed to the volatility of the crypto assets they hold.  
  • Stripe: Protects businesses from volatility by converting stablecoins to fiat.  

In summary:

• PayPal allows consumers to utilize crypto in their everyday online purchasing.  
• Stripe provides the tools for businesses to accept crypto payments, in a stable way, without the business having to hold those crypto assets.  

Therefore they are used in different ways, and for different purposes. Sources and related content

PayPal Launches New Service Enabling Users to Buy, Hold and Sell Cryptocurrency

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