MoonPay and PayPal have teamed up to streamline fiat-to-crypto transactions for US users
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PayPal has partnered with MoonPay to introduce a new fiat-to-crypto transaction service for US customers, MoonPay announced in a press release today. The partnership will feature MoonPay as the first and third-party provider to integrate PayPal's payment system, increasing the ease of purchasing crypto.
🌙 Exciting news from MoonPay! 💳
Today, we're excited to announce a game-changing integration: MoonPay has partnered with @PayPal to bring seamless fiat-to-crypto transactions to users in the US!
🧵👇 pic.twitter.com/N3kobMR2ru
— MoonPay 🟣 (@moonpay) May 2, 2024
With the new integration, US-based PayPal users can use their accounts to buy crypto directly on MoonPay using PayPal accounts, bank statements or debit cards. This integration also aims to eliminate the need for manual entry, making the process easier for existing PayPal customers.
According to Evan Soto-Wright, founder and CEO of MoonPay, the partnership with PayPal creates a familiar transaction environment and lowers the barrier to entry for new crypto users.
“Now more than ever, consumers are looking for different ways to finance — be it crypto, retail investing or digital banking — and this partnership underscores our deep commitment to partnering with trusted partners in the ecosystem to expand their reach,” said Soto-Wright.
“By integrating PayPal, we're enabling consumers to transact with crypto in an already familiar environment and lowering the barrier to entry for new users,” he added.
The service offers a number of advantages, including a wide variety of payment options, access to more than 110 tokens, and the convenience of purchasing without additional account setup.
PayPal's integration with MoonPay is currently available to US users and is expected to expand to MoonPay's partner networks in mid-2024, MoonPay said.
MoonPay is no stranger to the crypto sector. In the year Launched in 2019, the fintech company is known for its user-friendly platform that enables seamless buying and selling of popular cryptocurrencies such as Bitcoin and Ethereum, using a variety of convenient payment methods including credit cards, bank transfers and popular mobile wallets. Apple Pay and Google Pay.
MoonPay announced last month that it has expanded its partnership with Ledger, aiming to significantly improve ease of use for crypto users by 2024. Its platform to support a wide range of digital assets.
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