MoonPay has announced a strategic partnership with PayPal for better access to and convenience of crypto payments.
This collaboration will enable users in the European Union (EU) and the United Kingdom (UK) to purchase cryptocurrencies using PayPal.
In line with MoonPay’s announcement, 1% of its clients in the UK and EU (except from Croatia, Hungary, and Iceland) may already access PayPal.
Expanding Access to Crypto In EU, UK
MoonPay, a leading crypto payment service provider, has been pushing to simplify the process of buying and selling digital assets. With PayPal’s familiar interface, users can now access crypto with the same ease as making any other online payment.
Commenting on the partnership, Ivan Soto-Wright, MoonPay’s co-Founder and CEO, said, “The success of our PayPal partnership speaks volumes about the value we’re creating together.”
“This move will enable us to provide a frictionless experience and lower the barriers to entry to include new users around the world, bringing convenience and trust to our growing customer base,” said Soto-Wright.
By integrating PayPal into its platform, MoonPay aims to leverage PayPal’s extensive user base and trusted payment infrastructure to make crypto transactions more seamless and secure for users in the EU and UK.
MoonPay announced that people in the UK and most of the EU can now buy cryptocurrency using their PayPal accounts. This follows a successful launch in the US where PayPal became a popular option. pic.twitter.com/eaLp7jR18a
— Crypto Awaz (@CryptoAwaz) June 12, 2024
The collaboration is expected to reduce the entrance hurdles for novice cryptoinvestors, who might have been put off by the perceived hazards and complexity of traditional crypto exchanges.
Furthermore, PayPal’s integration into MoonPay’s platform will allow users to link their PayPal accounts directly to their MoonPay wallets. This means that users can bypass the often cumbersome process of transferring funds from their bank accounts to crypto exchanges, thereby reducing transaction times and potential errors.
Collaboration Between MoonPay And PayPal Is A Win
By bringing a mainstream payment service like PayPal into the crypto ecosystem, MoonPay is helping to bridge the gap between traditional finance and digital assets.
This could pave the way for more widespread adoption of cryptocurrencies, as it addresses one of the key challenges—accessibility.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
