Crypto payments adoption spearheaded by large businesses, PayPal survey finds

Nearly 85% of PayPal survey respondents expect cryptocurrency payments to become commonplace within the next five years, according to new data published on Tuesday.

While that may seem incongruent with the current market penetration of crypto payments, it may be based on actual merchant experiences. According to a new survey of about 620 “payment strategy decision makers” in late October 2025, nearly nine in 10 merchants reported having received customer inquiries about paying with crypto, and about four in 10 said they already accept crypto at checkout.

And those that report accepting crypto say crypto represents “over a quarter of total sales.” While roughly three-quarters of crypto-accepting merchants report that crypto sales have increased over the past year.

“What we’re seeing both in this data and in conversations with our customers is that crypto payments are moving beyond experimentation and into everyday commerce,” Vice President and General Manager of Crypto at PayPal May Zabaneh said in a statement. “Adoption is being driven by customer demand for faster, more flexible ways to pay—and once businesses start accepting crypto, they see real value.”

The survey, conducted online on behalf of the non-profit National Cryptocurrency Association, comes amid an ongoing sea change within the stablecoin sector, following the GENIUS Act being signed into law, providing guidelines to issue and transact using fiat-pegged tokens.

PayPal (PYUSD) was one of the first major payment institutions to embrace stablecoins, a move now being followed by banks and fintechs, including a DeFi startup with ties to President Donald Trump.

According to the survey, crypto payments adoption appears to be spearheaded by large businesses, with about 50% of respondents earning more than $500 million in annual revenue already accepting crypto. This is compared to 34% of small businesses and 32% of midsize companies.

About 90% of merchants said they would experiment with crypto “if the experience matched the ease of traditional card payments” and if the “setup process were as simple as accepting credit cards.”

“What this data makes clear is that interest in crypto isn’t the problem; understanding is,” National Cryptocurrency Association President Stu Alderoty said. “Too many people still don’t see how crypto fits into their everyday lives. That’s why partnerships with trusted platforms like PayPal are so important. We’re working together to help close the knowledge gap and show how crypto can be simple, accessible, and easy for everyday businesses and consumers.”