In an exciting development for the cryptocurrency community, MoonPay has expanded its partnership with PayPal to cover the European Union and the United Kingdom. This expansion follows a highly successful launch in the United States, which has already been rolled out to all users there.
A Seamless Crypto Purchase Experience
MoonPay users in 24 EU member states and the UK can now buy cryptocurrency using their PayPal accounts. This new integration makes the process of purchasing digital currencies smoother and more accessible, tapping into PayPal's extensive user base and secure payment infrastructure.
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The initial launch in the U.S. showed strong demand and impressive results for PayPal as a payment option for crypto purchases:
High Popularity: PayPal quickly became the third most popular payment method in the U.S., surpassing Google Pay and trailing only behind cards and Apple Pay.
Increased Engagement: Nearly 90% of users who connected to PayPal completed a transaction.
Higher Conversion Rates: New customers using PayPal as their first payment method converted at a rate 1.3 times higher than those using cards.
Broader Demographic: The integration attracted a more mature user base, with an average age of 35.
Ivan Soto-Wright, co-founder and CEO of MoonPay, expressed his enthusiasm about the expanded partnership:
“The success of our PayPal partnership speaks volumes about the value we’re creating together. Expanding our collaboration to new markets is an incredibly exciting milestone for us. 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.”
Ivan Soto-Wright, Co-founder & CEO of MoonPay
The integration simplifies transactions for MoonPay users with existing PayPal accounts. Users can now fund their cryptocurrency purchases using their PayPal Balance, direct bank withdrawals, or debit cards, without manually entering payment details.
Rapid Expansion and Partnerships
MoonPay has been rapidly extending the PayPal integration across its network of partners. Currently, the service is live with prominent platforms like Uniswap, xPortal, Changelly, Phantom, Zengo, BitPay, SafePal, and LOBSTR.
The PayPal integration is now available to MoonPay customers in the US, UK, and EU (excluding Croatia, Hungary, and Iceland). Plans are in place to extend this service through more of MoonPay’s partner networks later this year.
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This expansion marks a significant milestone in the adoption of cryptocurrency, making it easier for a broader audience to participate in the digital economy. As MoonPay continues to grow and integrate with more partners, the future of seamless and secure cryptocurrency transactions looks brighter than ever.
For more details about the MoonPay and PayPal partnership, visit MoonPay’s website.
