Cryptocurrency trading platform MoonPay has announced that it will integrate its trading service with PayPal. According to the company, the integration will offer platform customers in the United States to buy and sell more than 110 cryptocurrencies with PayPal.
With this integration, MoonPay will help users avoid declined cryptocurrency purchases via debit card, “significantly increasing the transaction success rate.” At the same time, PayPal customers will have access to a much larger amount of cryptocurrencies to purchase.
Additionally, PayPal users will not need to manually enter their card information when purchasing cryptocurrencies on MoonPay. This increases security on the platform and reduces the risk of information theft.
Unlimited shopping
MoonPay users will not be limited to purchases with the PayPal stablecoin (PYUSD) or Ethereum (ETH) and Bitcoin (BTC). The integration, according to the company, allows you to buy and sell more than 110 cryptocurrencies and tokens listed on the platform.
Initially, the service will be available to half of MoonPay’s customers in the US, who will be able to take advantage of the integration. Next, the company plans to expand its PayPal integration to users in the United Kingdom and the European Union “in the near future.”
According to MoonPay, the platform is the “first on- and off-ramp provider to integrate with PayPal” – citing the ability of users across all of MoonPay’s partner platforms to make use of the integration as a key differentiator of MoonPay from other exchanges. This functionality executes operations faster and without having to go through an order book.
Notably, PayPal also offers its own inbound and outbound service for web3 payments. But the integration with MoonPay aims to increase the diversity of trading options for its customers.
PayPal has more than 436 million users globally, with more than 200 million in the USA alone. For Ivan Soto-Wright, co-founder and CEO of MoonPay, the new service will bring a superior cryptocurrency trading experience.
Soto-Wright identified that other trading platforms have already integrated with PayPal, but only allow their customers access to some digital assets, such as ETH or PYSUSD. Overall, Soto-Wright sees the PayPal integration as having a notable impact on conversion rate.
“Many traditional banks do not allow users to purchase cryptocurrencies on debit or credit cards, but when users pay with PayPal, using the same card, we have already seen a dramatic increase in the success rate of transactions,” highlighted the MoonPay CEO.
Source: https://www.criptofacil.com/paypal-firma-parceria-para-ampliar-compra-de-criptomoedas/
