PayPal USD

Bitcoin

when

Apple

Cryptocurrency infrastructure firm MoonPay continues expanding the options to buy or sell crypto by integrating PayPal transactions.
MoonPay users in the United States can now buy and sell cryptocurrencies like Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) with PayPal, the firm announced on May 2.
The integration allows MoonPay users to complete fiat-to-crypto transactions through wallets, bank transfers or debit cards using a PayPal account.
“Through this partnership, users can buy and sell over 110 different cryptocurrencies via MoonPay using PayPal,” MoonPay co-founder and CEO Ivan Soto-Wright said.
According to the CEO, that’s a “superior experience” to many offerings available in the market, compared to platforms that limit users to buying only Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) or the PayPal USD (<a href="https://cointelegraph.com/paypal-pyusd-price-index">PYUSD</a>) stablecoin. Soto-Wright also claimed that MoonPay is the first <a href="https://cointelegraph.com/explained/cryptocurrency-on-ramps-and-off-ramps-explained">on-ramp and off-ramp</a> provider to integrate PayPal.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-05/f11c9f4b-4c20-4dc5-a4b7-23d6f6fdb5a4.png" alt="" title="">
 <figcaption style="text-align: center;">
 MoonPay co-founder and CEO Ivan Soto-Wright. Source: The Information
 </figcaption>
</figure>
Soto-Wright noted that integrations like PayPal will have a significant impact on conversion rates, adding:
<blockquote data-ct-non-breakable="true">
 “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.”
</blockquote>
Launched in 2019, MoonPay is focused on 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 <a href="https://cointelegraph.com/news/crypto-startup-moonpay-raises-555m-to-hit-3-4b-valuation">Tiger Global-backed platform</a> is known for collaborating with <a href="https://cointelegraph.com/news/mastercard-crypto-moonpay-web3">global payment giants such as Mastercard</a> and <a href="https://cointelegraph.com/news/binance-usd-deposits-withdrawals-moonpay-usdt">crypto exchanges such as Binance.US</a>.
Related: <a href="https://cointelegraph.com/news/pay-pal-proposes-cryptoeconomic-rewards-sustainable-bitcoin-miners">PayPal proposes ‘cryptoeconomic’ rewards for sustainable Bitcoin miners</a>
The CEO told Cointelegraph that MoonPay has over 20 million verified users as of May 2024. Soto-Wright mentioned that the PayPal integration will begin with MoonPay’s direct-to-consumer products — the MoonPay App and desktop — but will roll out to many of MoonPay’s partners soon.
The integration will initially be available to 50% of MoonPay’s customers and is planned to be expanded further to other jurisdictions in the United Kingdom and the European Union in the future.
Magazine: <a href="https://cointelegraph.com/magazine/meme-coins-betrayal-crypto-ideals-or-true-purpose/">Memecoins: Betrayal of crypto’s ideals… or its true purpose?</a>

MoonPay expands crypto options with PayPal integration

Cointelegraph

Other articles published on May 2, 2024

5 Best Cheap Crypto to Buy Now Under 1 Dollar May 2

Russia Unveils New AI-Powered EW Robot

Warren Calls for Action Against Iran’s Booming Bitcoin Mining Industry

Unprecedented Q1 2024 Profits for Tether (USDT): A Record-Breaking $4.52 Billion Net Gain

Bitcoin Price Tumbles After Halving, Defying Expectations of a Rally

Bitcoin: One of Europe’s largest banks invests in BlackRock’s ETF!

Join our free newsletter for daily crypto updates!