MoonPay and PayPal team up on crypto purchases
- MoonPay, a leading crypto infrastructure provider, has announced a partnership with PayPal to facilitate the purchase and sale of over 110 cryptocurrencies for its US users.
- The integration aims to address issues of declined crypto purchases via debit card, promising an improved success rate for transactions.
- Existing PayPal users will no longer need to manually input their card details when buying cryptocurrencies on MoonPay.
MoonPay’s collaboration with PayPal simplifies the process of buying and selling cryptocurrencies, offering users the flexibility to trade over 110 different coins and tokens.
Addressing Transactional Issues
Previously, crypto purchases via debit cards often faced issues leading to declined transactions. The integration with PayPal intends to rectify this problem, ensuring a higher success rate for crypto transactions. This will be a significant improvement for users, who can now engage in crypto trading with the same debit card without any hassles.
Expanding Crypto Options
Unlike other platforms that limit PayPal purchases to specific cryptocurrencies like PYUSD stablecoin or ether, MoonPay offers its users the flexibility to buy and sell more than 110 coins and tokens. This broad range of options is expected to appeal to a wider audience of crypto enthusiasts and traders.
Future Expansion Plans
MoonPay plans to extend this PayPal integration to its users in the United Kingdom and the European Union in the near future. This expansion will further solidify MoonPay’s position as a leading provider of crypto infrastructure services.
Unique Positioning
MoonPay claims to be the first provider to integrate with PayPal for both on and off-ramp services. This integration is available to users on all of MoonPay’s partner platforms, setting it apart from crypto exchanges with PayPal integration, like Coinbase.
About MoonPay
MoonPay is a Miami-based crypto payments company valued at $3.4 billion. The firm is backed by investments from NBA star Paul George, former tennis star Maria Sharapova, and musicians Drake and Justin Bieber. MoonPay’s payments infrastructure provides a straightforward experience for investors to convert between fiat, cryptocurrency, and non-fungible tokens (NFTs), further lowering the barrier to entry into the world of web3 early investing.
Conclusion
The partnership between MoonPay and PayPal marks a significant step forward in simplifying the process of buying and selling cryptocurrencies. By addressing transactional issues and offering a wide range of crypto options, MoonPay is poised to attract a larger user base and solidify its position in the crypto infrastructure space. With plans for future expansion, the company is set to further enhance its services and reach.
