• MoonPay announced that it is allowing U.S. customers to fund their accounts and buy crypto using Venmo
• This integration makes crypto more accessible to Venmo’s 60 million monthly active users
• Users can seamlessly fund their MoonPay accounts using their Venmo balance or linked payment methods like bank accounts, credit cards, or debit cards
MoonPay has announced a new way for US customers to pay for its services by adding Venmo as an additional option to fund their MoonPay accounts. This integration makes crypto more accessible to Venmo’s 60 million monthly active users.
Venmo Adds Crypto Purchases Via MoonPay
Venmo will join MoonPay as one of its funding sources to expand the ways to pay for US users. According to the official announcement, eligible users will now be able to buy and sell cryptocurrency directly on the MoonPay platform. This feature makes it easy and safe for over 60 million monthly active users to start using digital assets, thereby making transactions smoother and more accessible.
The new integration follows the recent addition of PayPal as a funding option for MoonPay, further expanding the myriad ways users can fund the platform. However, the new Venmo functionality will not be available to MoonPay users in New York or Texas.
A New Era of Crypto Accessibility
Recently, MoonPay integrated PayPal and Venmo to extend users’ options for paying for their crypto transactions through more familiar and comfortable means. Consequently, with this integration one can buy any cryptocurrency on MoonPay using a balance, bank, or debit card through PayPal and avoid the unnecessary hassle of manually inputting details about the payment.
Integration with Venmo on the other hand allows users to fund their MoonPay account balance or linked accounts for seamless, available transactions.
Conclusion
By including PayPal, a widely known payment method for consumers, the onboarding process for new crypto users will immediately feel more at home and the barrier to entry is down, making it much more approachable. This partnership between MoonPay and Venmo marks a significant development in making crypto more accessible to the mainstream public.
