The news: PayPal will enable Pay with Crypto in an attempt to streamline cross-border payments for US merchants through its intricate network of digital wallet and cryptocurrency integrations in the coming weeks.

How it works: Pay with Crypto enables merchants to make and accept payments with over a hundred cryptocurrencies and digital wallets like Coinbase and MetaMask, with immediate conversions to stablecoin or fiat currency through PayPal’s existing platform.

What’s the value: Merchants lose millions of dollars in foreign transaction fees annually. With Pay with Crypto, businesses can anticipate a transaction rate of 0.99%—a drop in the bucket compared with traditional rates.

Leverage points: PayPal’s upcoming release comes on the heels of PayPal World, which seeks to maximize interoperability between global merchants’ digital wallets and customers with local payment integrations. With Pay with Crypto, the sentiment of PayPal World can be implemented further with untraditional forms of currency.

Possible remittance play: Pay with Crypto would likely connect with consumers looking to send money home to family and friends overseas at more competitive rates. Other payment players have recently tossed their hats back into the remittance ring, like SoFi re-releasing self-serve international money transfers powered by on-chain technology.