MoonPay, a Web3 infrastructure company, announced a collaboration with PayPal that allows MoonPay users in the US to seamlessly buy cryptocurrency using their PayPal account.
The integration streamlines transactions for new MoonPay users who already have a PayPal account and use it for online transactions. When using PayPal, users can fund their cryptocurrency purchases by using their PayPal Balance, direct bank withdrawal or debit card – all without manually inputting the necessary information. MoonPay users also benefit from the safety of PayPal, which never shares full financial information for a transaction.
“PayPal has always been at the forefront of revolutionizing commerce globally,” said MoonPay Co-founder and CEO, Ivan Soto-Wright. “Now more than ever consumers are exploring different avenues of financial systems–whether that be crypto, retail investing or digital banking–and this partnership underscores our deep commitment to collaborating with trusted partners in the ecosystem to expand their access. By integrating PayPal, we are enabling consumers to transact with crypto in an already familiar environment, and significantly lower the barrier to entry for new users.”