Kraken has added PayPal as a funding option for U.S. users, enabling instant USD deposits with no bank details needed. The feature has seen over $1M in volume during an unpromoted soft launch.

Kraken has launched PayPal as a new funding method for its U.S. customers, allowing instant USD deposits directly into Kraken wallets. This follows the exchange’s previous rollout of the feature in the EU, U.K., and Australia. Users can deposit funds via their PayPal balance, linked bank accounts, or cards—without entering bank credentials or going through third-party login screens.

The integration has already shown strong traction during its soft launch, with over $1 million in deposits processed without formal promotion.

The addition of PayPal as a funding option enhances Kraken’s existing USD deposit methods for U.S. users—which include ACH transfers (through Plaid), FedWire, and debit cards—by offering users a faster, more seamless way to fund their accounts.

PayPal continues to expand its crypto ecosystem

This rollout comes as PayPal intensifies its push into digital assets. The company recently unveiled “Pay with Crypto,” a solution for U.S. merchants supporting over 100 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and leading stablecoins. Designed to reduce cross-border fees by up to 90%, it enables instant settlement and conversion to stablecoins or fiat. Kraken is among the exchanges integrated into this feature alongside Coinbase, OKX, and Binance.

Additionally, PayPal’s stablecoin PYUSD is gaining traction, having recently been added to Visa’s settlement platform alongside USDG and EURC.