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MoonPay integrates PayPal to streamline crypto transactions in the US
MoonPay announced today that its US users can now buy and sell more than 110 cryptocurrencies through PayPal.
Integration of cryptocurrency transactions within the PayPal the app could bypass banking restrictions that hinder such purchases.
A spokesperson for MoonPay noted that banking restrictions often cause cryptocurrency direct debit card transactions to fail. THE collaboration with PayPal the success rate of these transactions increases by using the same payment method in a more acceptable framework.
Furthermore, MoonPay said PayPal users can purchase cryptocurrencies without having to provide their personal or card information directly to MoonPay, simplifying the process.
🌙 Exciting news from MoonPay! 💳
Today we are excited to announce a revolutionary integration: MoonPay has partnered with @PayPal to offer seamless fiat-to-crypto transactions for users in the United States!
— MoonPay 🟣 (@moonpay) May 2, 2024
Previously, PayPal customers had the ability to purchase cryptocurrencies, including Bitcoin (Bitcoin), Ethereum (ET), PayPal USD (PYUSD), Bitcoin Cash (BCH) and Litecoin (LTC).
Following a partnership with MoonPay, the range of available cryptocurrencies has expanded to include Solana (SOL), Bind (USDT), Dogecoin (DOGE), Cardano (ADA) and Polygon (MATIC), among others.
MoonPay announced that with this new integration, customers in all 50 US states will now be able to make purchases cryptocurrencies directly through the PayPal platform using your account balance, direct bank withdrawals or debit cards.
As of the latest update, half of PayPal’s US users have access to this advanced feature.