MoonPay, has integrated PayPal transactions, allowing users in the US to buy and sell over 110 cryptocurrencies.
MoonPay, a company that specializes in cryptocurrency infrastructure, is continuing to broaden the range of alternatives available to buy or sell cryptocurrency by integrating PayPal transaction.
US MoonPay Users Gain Bitcoin Trading
Participants in the United States now have the ability to buy and sell cryptocurrencies, such as Bitcoin. Stock prices fell by $58.320. On May 2nd, the company made the announcement via PayPal.
Through the integration, users are able to complete transactions involving fiat currency and cryptocurrency by using wallets, bank transfers, or debit cards in conjunction with a PayPal account.
Ivan Soto-Wright, co-founder and CEO of MoonPay, stated that “through this partnership, users will be able to buy and sell over 110 different cryptocurrencies via MoonPay using PayPal.
That is a “superior experience” in comparison to many of the solutions that are now accessible on the market, as stated by the CEO. This is in contrast to platforms that restrict consumers to purchasing only Ether or the stablecoin used by PayPal USD.
Additionally, Soto-Wright claimed that it’s the only on-ramp and off-ramp supplier to incorporate PayPal into their platform.
Launched in 2019, it focuses on providing fiat-to-crypto transactions with debit and credit cards, mobile payment options like Apple and Google Pay, bank transfers, and local payment methods based on jurisdiction.
Soto-Wright noted that integrations such as PayPal will have a significant impact on conversion rates.
“Many traditional banks do not allow users to purchase crypto on debit/credit cards, but when users pay with PayPal, using that same card, we have already seen a dramatic increase in the success rate of transactions.”
The Tiger Global-funded platform is well-known for its collaborations with global payment giants like Mastercard and cryptocurrency exchanges like Binance.
The CEO informed that MoonPay has approximately 20 million confirmed users as of May 2024.
Soto-Wright indicated that MoonPay’s direct-to-consumer solutions, such as the MoonPay App and desktop, will initially implement the PayPal integration, but it will soon roll it out to a significant number of it’s partners.
Future plans call for making integration available to additional jurisdictions in the United Kingdom and the European Union. Initially, it will be accessible to fifty percent of it’s clients.
