MoonPay and PayPal crypto purchasing integration expands to include UK and EU customers

The Block2024/06/12 14:16

By:The Block

Quick Take MoonPay’s integration with PayPal has expanded to include customers in both the United Kingdom and 24 European Union member states. Clients of MoonPay can use PayPal to buy cryptocurrency.

MoonPay announced on Wednesday that users in both the United Kingdom and European Union can now buy cryptocurrencies using PayPal.

"This move will enable us to provide a frictionless experience and lower the barriers to entry to include new users around the world," MoonPay co-founder and CEO Ivan Soto-Wright said in a statement.

The announcement follows the two companies launching a similar integration in the United States last month. MoonPay said its PayPal integration in the U.S. is available to 100% of users there. U.S. users could buy and sell more than 110 cryptocurrencies with PayPal, as of last month's announcement.

MoonPay also said customers can buy crypto using their existing PayPal balance, bank withdrawals or debit cards. Using PayPal has allowed MoonPay to service a "a more mature user base, with an average age of 35 years old," according to the statement.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.