MoonPay, a cryptocurrency infrastructure firm, has announced the integration of PayPal transactions, further expanding the options for buying and selling crypto. Users in the United States can now use their PayPal accounts to complete fiat-to-crypto transactions through MoonPay’s wallets, bank transfers, or debit cards. This partnership allows users to buy and sell over 110 different cryptocurrencies, making it a superior experience compared to platforms that only offer Ether or the PayPal USD stablecoin. MoonPay is also the first provider to integrate PayPal as an on-ramp and off-ramp. The integration is expected to have a significant impact on conversion rates. MoonPay, backed by Tiger Global, has collaborated with major payment giants like Mastercard and crypto exchanges such as Binance.US. As of May 2024, they have over 20 million verified users, and the PayPal integration will initially be available to 50% of their customers, with plans to expand to other jurisdictions in the future.
PayPal integration enables MoonPay to broaden its range of cryptocurrency choices