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PayPal has joined forces with MoonPay, introducing a novel fiat-to-crypto service exclusive to U.S. customers. This pioneering collaboration integrates PayPal’s renowned payment solutions with MoonPay, marking it as the first on- and off-ramp provider to do so. The partnership allows U.S.-based users to buy cryptocurrencies directly through MoonPay using various PayPal funding options, including PayPal Balance, bank withdrawals, or debit cards. This integration streamlines the purchase process by eliminating manual data entry, making it more accessible and user-friendly for PayPal’s existing clientele.
MoonPay co-founder and CEO, Ivan Soto-Wright, emphasizes that this partnership lowers the entry barriers for new crypto users by offering a familiar transaction environment through PayPal. The service also provides a broad spectrum of payment methods and access to over 110 different tokens, facilitating crypto transactions without the need for additional account setups. MoonPay, which launched in 2019, is expanding its reach and capabilities, planning to extend these services to its partner networks by mid-2024, ensuring a smoother and more inclusive crypto trading experience.
