A recent PayPal survey has revealed that 4 in 10 of U.S. merchants now accept cryptocurrency payments at checkout. This marks a significant shift toward mainstream adoption of cryptocurrencies, driven largely by customer demand. The study, which was conducted in association with the National Cryptocurrency Association (NCA) in October 2025, surveyed 619 payment decision-makers across retail, e-commerce, hospitality, luxury goods, and gaming.
The study showed that 88% of merchants received customer inquiries about crypto payments, with 69% facing requests at least monthly. For those accepting crypto for transactions, the use of crypto drove over 26% of sales on average, with 72% noting transaction growth last year. Additionally, 84% of merchants expect crypto to become a standard payment option within five years.
What Drives Crypto Adoption in the US?
Many factors drive crypto adoption in the US. Customer demand tops the list, with 79% of merchants viewing crypto as a way to attract new buyers. Other major benefits of crypto also attract people, prominent among them being faster transactions (45%), new customer access (45%), security (41%), and privacy (40%).
America’s pro-crypto policies have boosted confidence among investors. For instance, President Trump’s administration has fueled growth through a Strategic Bitcoin Reserve, pro-crypto SEC leadership, and stable coin regulations like the GENIUS Act. About 52% of Americans believe these policies raise crypto values, stabilizing ownership at 30%. Additionally, institutional moves like spot ETFs and clearer regulations further enhance the liquidity of various cryptocurrencies and trust among investors.
Leading Sectors and Businesses
Large enterprises with over $500 million in annual revenue lead cryptocurrency adoption at 50%, surpassing midsize businesses (32%) and small businesses (34%). Hospitality and travel top the list at 81% adoption, driven by global customers and cross-border needs. Digital gaming and luxury goods and e-commerce follow at 76% and 69%, respectively, due to tech-savvy audiences and seamless online transactions.
However, Retail finance showed slower but growing uptake, driven by customer interest and new tools like ETFs. Only about 17% of US retail investors with active checking accounts have transferred funds to crypto since 2017, far below traditional assets at 33%. Among finance professionals, 23% of CFOs at large firms ($1B+ revenue) are expected to plan crypto treasury use within two years, rising to 40% for $10B+ companies; 15%-24% eye non-stablecoin investments. Stablecoins appeal for privacy (45%) and cross-border payments (39%).
Institutional adoption via ETFs reached 2% of brokerage users by mid-2025, mostly young, high-income men. Tech-heavy states like Washington (2.43% taxpayer activity) lead regionally, while traditional banking eyes crypto for trust and auditability.
