Customers get a new option to purchase and trade crypto that is completely frictionless.
At least 436 million PayPal customers will be able to utilize this service.
United States users may now purchase and trade more than a hundred different cryptocurrencies, including Bitcoin and Ethereum, using PayPal transactions via wallet, bank transfers, or debit cards, thanks to the new collaboration pact between MoonPay and PayPal.
A variety of digital assets, including Bitcoin, Ethereum, Litecoin, PayPal USD, and Bitcoin Cash, were formerly available for purchase via PayPal. Solana (SOL), Tether (USDT), Dogecoin (DOGE), Cardano (ADA), Polygon (MATIC), and many more are now available to them.
New Option to Purchase and Trade Crypto
As stated in MoonPay’s X post, this partnership establishes the crypto infrastructure business as the pioneering on- and off-ramp provider to include PayPal. MoonPay claims that by doing this, it is giving PayPal customers a new option to purchase and trade cryptocurrencies that is completely frictionless.
At least 436 million PayPal customers will be able to utilize this service to convert fiat currency to cryptocurrency via their wallets, bank transfers, or debit cards linked to their PayPal account, says MoonPay. The new service, according to MoonPay co-founder and CEO Ivan Soto-Wright, is better than what’s available on other platforms.
The MoonPay CEO highlighted:
“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.”
He uncovered exchanges that limit their clients’ access to a small number of digital assets, such as a single Ethereum or the recently established PayPal USD stablecoin. As a whole, Soto-Wright thinks the PayPal connection has a big effect on the conversion rate.
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