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To settle the transactions, PayPal will let users connect existing crypto wallets they own to a checkout page. Depending on a buyer’s crypto wallet, PayPal will sell the cryptocurrency on a centralized exchange like Coinbase or a decentralized exchange like Uniswap. The proceeds of that sale will be converted into PayPal’s own stablecoin, which will then be converted into U.S. dollars sent back to the merchant.
“There’s a worldview where you can imagine that the world is moving on chain,” said Keller, referring to putting data on blockchains. “Is that happening overnight? No. Some people say long time periods. Other people say very short time periods. I think we will see movement.”
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