- PayPal, the online payment giant, is expanding its cryptocurrency offerings by partnering with cryptocurrency company MoonPay.
- This partnership will provide PayPal’s 426 million customers access to over 100 digital assets.
- MoonPay believes this collaboration will help circumvent banking hurdles that users often face with crypto purchases.
PayPal partners with MoonPay to expand its cryptocurrency offerings, providing its customers with access to over 100 digital assets and potentially overcoming banking hurdles associated with crypto purchases.
PayPal Expands Cryptocurrency Offerings
PayPal is set to broaden its cryptocurrency offerings by collaborating with MoonPay, a cryptocurrency company. This partnership aims to provide PayPal’s more than 426 million customers with access to over 100 digital assets. MoonPay believes that this collaboration will help bypass the banking hurdles that some users often encounter with crypto purchases.
Overcoming Banking Hurdles
According to a MoonPay spokesperson, crypto purchases often fail when users attempt to use their debit cards directly due to certain bank restrictions. The partnership with PayPal offers a solution, significantly increasing the success rate of crypto transactions—even when using the same debit card. MoonPay added that PayPal customers will be able to buy cryptocurrency without having to separately provide their personal or card information to MoonPay.
Access to More Digital Assets
Previously, PayPal customers could buy Bitcoin (BTC), Ethereum (ETH), PayPal USD (PYUSD), Bitcoin Cash (BCH), and Litecoin (LTC). With the MoonPay deal, customers will also have access to Solana (SOL), Tether (USDT), Dogecoin (DOGE), Cardano (ADA), Polygon (MATIC), and more. MoonPay stated that U.S. customers in all 50 states will be able to purchase cryptocurrency on the MoonPay platform using their PayPal account balance, direct bank withdrawal, or debit card, all without needing to manually input such details.
Conclusion
This partnership between PayPal and MoonPay marks a significant step towards making cryptocurrency transactions more accessible and successful for users. By offering a wider range of digital assets and simplifying the purchase process, PayPal continues to solidify its position in the evolving digital currency landscape.
