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MoonPay Partners With PayPal To Simplify Crypto Purchases In EU and UK

By Akriti Seth

Last Updated: Jun 13, 2024

Source:Unspalsh

MoonPay has announced a strategic partnership with PayPal for better access to and convenience of crypto payments.

This collaboration will enable users in the European Union (EU) and the United Kingdom (UK) to purchase cryptocurrencies using PayPal.

In line with MoonPay’s announcement, 1% of its clients in the UK and EU (except from Croatia, Hungary, and Iceland) may already access PayPal.

Expanding Access to Crypto In EU, UK 

MoonPay, a leading crypto payment service provider, has been pushing to simplify the process of buying and selling digital assets. With PayPal’s familiar interface, users can now access crypto with the same ease as making any other online payment.

Commenting on the partnership, Ivan Soto-Wright, MoonPay’s co-Founder and CEO, said, “The success of our PayPal partnership speaks volumes about the value we’re creating together.” 

“This move will enable us to provide a frictionless experience and lower the barriers to entry to include new users around the world, bringing convenience and trust to our growing customer base,” said Soto-Wright.  

By integrating PayPal into its platform, MoonPay aims to leverage PayPal’s extensive user base and trusted payment infrastructure to make crypto transactions more seamless and secure for users in the EU and UK.

The collaboration is expected to reduce the entrance hurdles for novice cryptoinvestors, who might have been put off by the perceived hazards and complexity of traditional crypto exchanges. 

Furthermore, PayPal’s integration into MoonPay’s platform will allow users to link their PayPal accounts directly to their MoonPay wallets. This means that users can bypass the often cumbersome process of transferring funds from their bank accounts to crypto exchanges, thereby reducing transaction times and potential errors.

Collaboration Between MoonPay And PayPal Is A Win

By bringing a mainstream payment service like PayPal into the crypto ecosystem, MoonPay is helping to bridge the gap between traditional finance and digital assets.

This could pave the way for more widespread adoption of cryptocurrencies, as it addresses one of the key challenges—accessibility.

EXPLORE: 8 Methods to Buy Bitcoin With PayPal Instantly in 2024 

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Akriti Seth
Akriti Seth
Editor

Akriti Seth is a Zurich-based Business Journalist and Crypto Editor. Her passion for journalism has taken her across the globe – from thriving as an on-television correspondent to writing engaging articles, she has worked for companies like Informa UK, Bloomberg... Read More

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