Despite broader operational struggles, PayPal’s expansion into digital assets has shown measurable momentum.

Its dollar-pegged stablecoin, PayPal USD (PYUSD), has surpassed $4 billion in market capitalization, making it the sixth-largest stablecoin globally. It trails major players such as Tether (USDT) and USD Coin (USDC), as well as Ethena’s USDe, Dai and USD1.

PayPal has also expanded its crypto infrastructure. In 2025, it introduced “Pay with Crypto,” enabling merchants to accept digital assets while settling in fiat, positioning the company as a bridge between traditional finance and on-chain payments. It also rolled out shareable crypto payment links to broaden peer-to-peer functionality beyond standard wallet transfers.

Interestingly, neither initiative received significant attention during the company’s most recent earnings call — a sign that while crypto is strategically important, it may not yet be central to PayPal’s short-term investor narrative.

As takeover speculation builds, PayPal’s digital asset infrastructure could become a key strategic asset for any potential acquirer looking to expand its footprint in blockchain-based payments.