MoonPay Expands Crypto Trading Options with Integration of PayPal

Hassan Shittu

Last updated:

May 2, 2024 17:43 EDT

| 2 min read

MoonPay partnered with financial technology giant PayPal on May 2 to expand its crypto trading services within the United States. This collaboration allows MoonPay users to purchase and sell over 100 cryptocurrencies, including Bitcoin and Ethereum, using various payment methods linked to their PayPal accounts.

The company announced that MoonPay users in the U.S. can now complete fiat-to-crypto transactions through wallets, bank transfers, or debit cards using a PayPal account.

Crypto Now Available To Moonpay US Users.

The integration signifies a notable development for MoonPay, as it became the first platform of its kind to incorporate PayPal. This provides a wider selection of cryptocurrencies compared to platforms that only offer Ether or the PayPal USD stablecoin.

MoonPay CEO Ivan Soto-Wright highlighted the positive impact of the Moonpay Paypal integration 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,” said Soto-Wright.

With over 20 million verified users as of May 2024, he emphasized that the PayPal integration will initially be available through MoonPay’s direct-to-consumer products, including the MoonPay App and desktop.

The integration is expected to commence with 50% of MoonPay’s customers and expand to other regions, including the United Kingdom and the European Union.

Previously, PayPal users had access to a limited selection of digital assets, including Bitcoin, Ethereum, Litecoin, PayPal USD, and Bitcoin Cash. With the Moonpay PayPal partnership, however, users now have a broader range of options, including popular tokens like Solana (SOL), Tether (USDT), Dogecoin (DOGE), Cardano (ADA), and Polygon (MATIC).

Additionally, MoonPay’s expansion aligns with its commitment to 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.

The company seeks to expand this access to other regions, such as the United Kingdom and the European Union.

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