As part of joining forces to help more people use digital currencies, MoonPay, a key global cryptocurrency payment infrastructure company, launches its collaboration with PayPal, and extends its integration with the platform to its European Union and United Kingdom customers. .
Cross-Border Transactions With Ease
MoonPay and PayPal partnership makes it easy to purchase cryptocurrencies, as your PayPal account can now be directly used in your transactions inside the app. This integration will address growing consumer demand to purchase digital assets in a simple, intuitive way.
According to MoonPay co-Founder and CEO Ivan Soto-Wright, this is part of the company’s initiative to “smooth the process and decrease the barriers to entry for new users across the globe,” which will be a step-change towards making cryptocurrency payments as common as any other type of online purchase.
This entrance into European comes after successfully launching in the U.S. which made the service available to users across the continent and represents a strategic decision for MoonPay.
The new service will allow merchants to accept PayPal as a payment option, which can pull in funds from a customer’s direct PayPal account, a PayPal-attached bank account or their linked debit card. Such flexibility not only provides user experience robustness, but also significantly widens the access of cryptocurrencies to a different category of users.
This initiative falls in line with an increased acceptance of Fintech and digital currencies, highlighting a new crossroads in the ever-changing landscape of financial services, and bridging the traditional and modern methods of finance.
This is an observation that was also called out in the statement from MoonPay – that their average user is 35 years old – indicating that a more well-set segment of consumers are entering the less-active market.
Deeper Broader Adoption with Strategic Integration
The partnership between MoonPay and PayPal goes beyond convenient payments as it provides a strategic one. That is a large gap between traditional finance and the new digital currency world it means to bridge by encouraging trust and comfort in new user bases. MoonPay and PayPal, in lowering the entry barriers, are reaching out to an arguably thousands-long audience, a feat that is critical to widespread adoption of cryptocurrencies.
With large corporations moving more quickly towards integration of digital currencies as a legitimate financial asset, partnerships such as those are essential to establishing a real world use case for the money of the Future.
By combining their efforts and resources, MoonPay and PayPal may well be on their way to revolutionizing the financial industry as we know it with relative ease – an exciting future just around the corner.
Ultimately, this wider expansion of MoonPay and PayPal into the UK and EU could also impact broader cryptocurrency adoption levels, enabling more ordinary people to enter the world of digital assets. As the ecosystem progresses, these types of integrations will likely be an important connector between legacy financial systems and the ‘new money’ economy.
