- MoonPay has announced a key integration.
- The integration targets users in the U.S.
- MoonPay said the integration is poised to revolutionize the crypto experience.
Web3 infrastructure company MoonPay announced its integration with PayPal on Thursday to offer seamless fiat-to-crypto transactions for users in the U.S.
Co-founded by Ivan Soto-Wright, MoonPay is on an ambitious journey of “onboarding the world to Web3” through end-to-end payment solutions, enterprise-scale smart contract development, and digital asset management.
MoonPay Integrates PayPal
In an announcement dated May 2, MoonPay said its latest integration allows PayPal users in the U.S. to buy and sell over 110 cryptocurrencies, “not just limited options like PYUSD or ETH!”
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“With over 426 million active accounts worldwide, PayPal provides a trusted platform for online payments. This integration brings familiarity and convenience to our users, enhancing their experience with MoonPay.” MoonPay said.
Noting that it was the first on- and off-ramp provider to integrate PayPal, MoonPay claimed that the integration would solve one of the biggest hurdles plaguing the crypto industry regarding adoption.
“Frequently, crypto purchases fail when users attempt to use their debit cards directly, due to certain bank restrictions. MoonPay's partnership with PayPal offers a solution, significantly increasing the success rate of crypto transactions – even when using the same debit card,” The announcement read.
Additionally, with the integration, existing PayPal users won’t need to manually input debit or credit card information when buying crypto via MoonPay.
While MoonPay didn’t specify whether the integration would be available to other PayPal users outside the U.S., the company’s platform is active in over 160 countries worldwide.
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Read why PayPal suspended crypto sales in the UK:
PayPal Suspends Crypto Sales in the U.K. Starting October
Explore the ins and outs of PayPal’s stablecoin PYUSD:
PYUSD: The Dangers of a Centralized Stablecoin
