Cryptocurrency app MoonPay has partnered with PayPal to introduce crypto
purchasing options to MoonPay users in the United States. The new offering
allows users to use PayPal for transactions via wallet transfers, bank
transfers, and debit cards.
The integration promises to enhance the
accessibility and convenience of buying and trading cryptocurrencies by
bridging the gap between traditional financial services and the burgeoning
crypto market.
According to the announcement on X, the
collaboration between MoonPay and PayPal signifies a significant milestone in
the journey towards mainstream adoption of cryptocurrencies . Users have access to a wider range
of digital assets, and PayPal has extended its offering of crypto tokens
through MoonPay.
Additionally, PayPal’s integration into MoonPay’s ecosystem represents a
significant achievement in overcoming barriers to cryptocurrency adoption. Traditional banks have often imposed
restrictions on transactions
related to cryptocurrencies, leading to
frustrations for users. This collaboration opens up new avenues for individuals
seeking to invest in cryptocurrencies.
“MoonPay allows PayPal users to buy and
sell 110+ cryptocurrencies, not just limited options like PYUSD or ETH. For
existing PayPal users, the integration streamlines transactions, eliminating
the need to manually input card information. Buying crypto on MoonPay becomes
as easy as a few clicks,” MoonPay noted.
Bridge Between Fiat and Crypto
Last year, PayPal entered into the cryptocurrency space after
launching a stablecoin fully backed by the US dollar. Dubbed PYUSD, the digital
asset marked a significant step towards bridging the gap between traditional
fiat currency and the rapidly evolving digital asset space.
PYUSD, developed in collaboration with
Paxos Trust Company, is a digital asset firmly anchored by US dollar deposits,
short-term US Treasuries, and similar cash equivalents. This ensures
that each unit of PYUSD is redeemable at a 1:1 ratio for US dollars.
With PYUSD, PayPal users gain the ability to seamlessly
transfer the stablecoin between their PayPal accounts and compatible digital
wallets. Paxos will regularly publish a report outlining the financial
instruments backing PYUSD to
ensure transparency.
Cryptocurrency app MoonPay has partnered with PayPal to introduce crypto
purchasing options to MoonPay users in the United States. The new offering
allows users to use PayPal for transactions via wallet transfers, bank
transfers, and debit cards.
The integration promises to enhance the
accessibility and convenience of buying and trading cryptocurrencies by
bridging the gap between traditional financial services and the burgeoning
crypto market.
According to the announcement on X, the
collaboration between MoonPay and PayPal signifies a significant milestone in
the journey towards mainstream adoption of cryptocurrencies . Users have access to a wider range
of digital assets, and PayPal has extended its offering of crypto tokens
through MoonPay.
Additionally, PayPal’s integration into MoonPay’s ecosystem represents a
significant achievement in overcoming barriers to cryptocurrency adoption. Traditional banks have often imposed
restrictions on transactions
related to cryptocurrencies, leading to
frustrations for users. This collaboration opens up new avenues for individuals
seeking to invest in cryptocurrencies.
“MoonPay allows PayPal users to buy and
sell 110+ cryptocurrencies, not just limited options like PYUSD or ETH. For
existing PayPal users, the integration streamlines transactions, eliminating
the need to manually input card information. Buying crypto on MoonPay becomes
as easy as a few clicks,” MoonPay noted.
Bridge Between Fiat and Crypto
Last year, PayPal entered into the cryptocurrency space after
launching a stablecoin fully backed by the US dollar. Dubbed PYUSD, the digital
asset marked a significant step towards bridging the gap between traditional
fiat currency and the rapidly evolving digital asset space.
PYUSD, developed in collaboration with
Paxos Trust Company, is a digital asset firmly anchored by US dollar deposits,
short-term US Treasuries, and similar cash equivalents. This ensures
that each unit of PYUSD is redeemable at a 1:1 ratio for US dollars.
With PYUSD, PayPal users gain the ability to seamlessly
transfer the stablecoin between their PayPal accounts and compatible digital
wallets. Paxos will regularly publish a report outlining the financial
instruments backing PYUSD to
ensure transparency.
