MoonPay now lets users buy and sell crypto funded by PayPal (NASDAQ: PYPL).
MoonPay’s integration with PayPal reportedly “offers a seamless fiat-to-crypto experience for all PayPal users in the U.S.”
MoonPay, the Web3 infrastructure company, has recently announced a collaboration with PayPal that allows MoonPay users in the U.S. “to seamlessly buy cryptocurrency using their PayPal account.”
The integration streamlines transactions “for new MoonPay users who already have a PayPal account and use it for online transactions.”
When using PayPal, users can “fund their cryptocurrency purchases by using their PayPal Balance, direct bank withdrawal, or debit card – all without manually inputting the necessary information.”
MoonPay users also benefit “from the safety of PayPal, which never shares full financial information for a transaction.”
MoonPay co-founder and CEO, Ivan Soto-Wright said:
“PayPal has always been at the forefront of [enhancing] commerce globally. Now more than ever consumers are exploring different avenues of financial systems–whether that be crypto, retail investing, or digital banking–and this partnership underscores our deep commitment to collaborating with trusted partners in the ecosystem to expand their access. By integrating PayPal, we are enabling consumers to transact with crypto in an already familiar environment, and significantly lower the barrier to entry for new users.”
Key Benefits:
- Flexibility and choice: MoonPay offers users an extensive array of payment methods, now including PayPal
- Variety in token support
- Convenience and speed: MoonPay users can fund purchases with PayPal without the need to set up additional accounts or enter new payment info.
- Digital onboarding: For existing PayPal users, making your first purchase with MoonPay is now easier than ever.
PayPal is available now to be used by MoonPay users “in the United States and will be available through MoonPay’s partner networks by mid-2024.”
As covered, Xoom, PayPal‘s cross-border money transfer service, announced that U.S. users now have the option to fund money transfers to friends and family abroad using USD converted from PayPal USD (PYUSD), a U.S. dollar-denominated stablecoin2.
Rolling out to customers in the U.S. starting now, the new funding option “will allow U.S. Xoom users to easily convert the PYUSD in their linked PayPal Cryptocurrency Hub to USD and use that as a funding source to send money to recipients in approximately 160 countries globally with no Xoom transaction fees.”
Xoom’s new option comes at a time “when consumers are seeking cost-effective options for cross-border payments.”
