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MoonPay brings PayPal on board for cryptocurrency purchases in the EU and UK
MoonPay announced the expansion of PayPal as a payment option for users in the European Union and the United Kingdom, following a successful launch in the US last month. Now, MoonPay users in 24 EU member states and the UK can purchase cryptocurrency using their PayPal accounts.
The recent launch in the US, which reached all users, showed strong demand for PayPal, becoming the third most popular payment method, surpassing Google Pay and ranking just behind cards and Apple Pay.
Ivan Soto-Wright, co-founder and CEO of MoonPay, source: LinkedIn
Nearly 90% of users who connect to PayPal complete a transaction, and new customers who use PayPal as their first payment method convert at a rate 1.3 times higher than those who use cards. The integration also attracts a more mature user base, with an average age of 35.
This integration simplifies transactions for MoonPay users with existing PayPal accounts, allowing them to fund their cryptocurrency purchases using their PayPal balance, direct bank withdrawal or debit card without manually entering details.
“The success of our partnership with PayPal speaks volumes about the value we are creating together,” said Ivan Soto-Wright, co-founder and CEO of MoonPay.
“Expanding our collaboration to new markets is an incredibly exciting milestone for us. This move will allow 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.”
MoonPay is rapidly expanding PayPal integration to its partners, now active with Uniswap, Phantom, BitPay, Changelly, xPortal, Zengo, SafePal and LOBSTR. Currently, PayPal is available to 1% of MoonPay customers in the UK and EU, excluding Croatia, Hungary and Iceland, with a wider rollout planned in the coming weeks.
PayPal’s cryptocurrency holdings exceed $1 billion
Before, Financial magnates reported that PayPal is holding out $1 billion in cryptocurrencies belonging to its clients, highlighting its significant role in the digital currency space. It is crucial to note that these assets are owned by customers.
This move is in line with consumer expectations for flexible money management, with PayPal making it easier to buy, hold and sell money directly cryptocurrencies . By expanding access to this previously specialized market, PayPal demonstrates adaptability, ensuring continued relevance and competitiveness in the fintech sector.
MoonPay announced the expansion of PayPal as a payment option for users in the European Union and the United Kingdom, following a successful launch in the US last month. Now, MoonPay users in 24 EU member states and the UK can purchase cryptocurrency using their PayPal accounts.
The recent launch in the US, which reached all users, showed strong demand for PayPal, becoming the third most popular payment method, surpassing Google Pay and ranking just behind cards and Apple Pay.
Ivan Soto-Wright, co-founder and CEO of MoonPay, source: LinkedIn
Nearly 90% of users who connect to PayPal complete a transaction, and new customers who use PayPal as their first payment method convert at a rate 1.3 times higher than those who use cards. The integration also attracts a more mature user base, with an average age of 35.
This integration simplifies transactions for MoonPay users with existing PayPal accounts, allowing them to fund their cryptocurrency purchases using their PayPal balance, direct bank withdrawal or debit card without manually entering details.
“The success of our partnership with PayPal speaks volumes about the value we are creating together,” said Ivan Soto-Wright, co-founder and CEO of MoonPay.
“Expanding our collaboration to new markets is an incredibly exciting milestone for us. This move will allow 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.”
MoonPay is rapidly expanding PayPal integration to its partners, now active with Uniswap, Phantom, BitPay, Changelly, xPortal, Zengo, SafePal and LOBSTR. Currently, PayPal is available to 1% of MoonPay customers in the UK and EU, excluding Croatia, Hungary and Iceland, with a wider rollout planned in the coming weeks.
PayPal’s cryptocurrency holdings exceed $1 billion
Before, Financial magnates reported that PayPal is holding out $1 billion in cryptocurrencies belonging to its clients, highlighting its significant role in the digital currency space. It is crucial to note that these assets are owned by customers.
This move is in line with consumer expectations for flexible money management, with PayPal making it easier to buy, hold and sell money directly cryptocurrencies . By expanding access to this previously specialized market, PayPal demonstrates adaptability, ensuring continued relevance and competitiveness in the fintech sector.