Originally published on: May 02, 2024
MoonPay, a leading cryptocurrency infrastructure firm, has recently unveiled an exciting integration with PayPal, offering users in the United States expanded options to buy and sell cryptocurrencies like Bitcoin. This new development, announced on May 2, opens up over 110 different cryptocurrencies for MoonPay users to access via PayPal.
With this collaboration, MoonPay users can now seamlessly complete fiat-to-crypto transactions using their PayPal accounts, leveraging wallets, bank transfers, or debit cards. MoonPay’s co-founder and CEO, Ivan Soto-Wright, described the partnership as a game-changer, providing a superior experience compared to other platforms limited to specific cryptocurrencies like Ether or stablecoins.
MoonPay takes pride in being the first provider to offer such comprehensive integration, allowing for easy on-ramp and off-ramp services through PayPal. Soto-Wright highlighted the significant impact this move will have on conversion rates, making transactions smoother and more accessible to a broader user base.
Since its inception in 2019, MoonPay has been committed to simplifying fiat-to-crypto transactions, catering to diverse payment preferences ranging from credit cards to mobile payment options like Apple and Google Pay. Backed by investors like Tiger Global, MoonPay has forged partnerships with global payment giants and major crypto exchanges, solidifying its position as a key player in the industry.
According to Soto-Wright, MoonPay’s user base exceeds 20 million verified users as of May 2024, poised to benefit from the initial rollout of the PayPal integration through MoonPay’s direct-to-consumer products. The integration will gradually expand to more users and jurisdictions across the UK and the EU, offering a seamless crypto trading experience for all. Stay tuned for more updates on MoonPay’s innovative solutions and industry collaborations.