Kraken has introduced PayPal as a new funding option for its U.S. users, allowing instant USD deposits directly into Kraken wallets without the need for bank details or third-party logins. Users can fund their accounts using their PayPal balance, linked bank accounts, or cards. The feature, which previously launched in the EU, U.K., and Australia, has already processed over $1 million in volume during a quiet soft launch in the U.S.
The integration has gained significant momentum during its soft launch, processing over $1 million in deposits without any formal promotion.
By adding PayPal as a funding option, Kraken expands its existing suite of USD deposit methods for U.S. users—which already includes ACH transfers via Plaid, FedWire, and debit cards—providing a faster and more convenient way to fund accounts.
PayPal Further Expands Its Cryptocurrency Ecosystem
This launch aligns with PayPal’s growing commitment to the digital asset space. The company recently introduced “Pay with Crypto,” a solution for U.S. merchants that supports over 100 cryptocurrencies—including Bitcoin, Ethereum (ETH), and major stablecoins. The feature enables instant settlement and conversion to stablecoins or fiat, while reducing cross-border transaction fees by up to 90%. Kraken joins other major exchanges like Coinbase, OKX, and Binance in supporting this integration.
Meanwhile, PayPal’s stablecoin, PYUSD, continues to gain momentum, having recently been added to Visa’s settlement platform alongside USDG and EURC.
