Violet Vallaya
MoonPay, a leading fiat-to-crypto payment infrastructure company, announced today the expansion of its successful partnership with PayPal to include users in 24 European Union member states and the United Kingdom. This follows a well-received launch in the U.S. last month, demonstrating a strong demand for seamless crypto purchases using trusted payment methods.
The integration allows MoonPay users to leverage their existing PayPal accounts to buy over 100 cryptocurrencies, including popular choices like Bitcoin, Ethereum, and Shiba Inu (SHIB). This simplifies the process by eliminating the need for manual entry of payment details and offering users the flexibility to fund their transactions with their PayPal balance, direct bank transfer, or debit card.
“The success of our PayPal partnership speaks volumes about the value we’re creating together,” Ivan Soto-Wright, MoonPay’s co-founder and CEO said in a statement. “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.”
Building on US Success
As of last month’s announcement, PayPal integration is available to all users in the U.S., enabling them to buy and sell over 110 cryptocurrencies.
The U.S. launch of the PayPal integration proved highly successful, with PayPal quickly becoming the third most popular payment method on MoonPay’s platform, surpassing Google Pay and trailing only cards and Apple Pay. User engagement metrics were equally impressive, with nearly 90% of users who connect their PayPal accounts proceeding with a crypto purchase.
Additionally, new customers using PayPal as their first payment method converted to purchase at a 1.3 times higher rate compared to those using cards. This suggests the integration is attracting a new demographic to MoonPay, with the average PayPal user being 35 years old.
The rollout in the EU and UK will be phased, with initial availability for 1% of users, excluding Croatia, Hungary, and Iceland. Full coverage is expected within the next few weeks. This expansion marks a significant step towards MoonPay’s goal of making cryptocurrency purchases easier and more accessible for a global audience.
