MoonPay has taken another step in enhancing its platform with the introduction of Venmo as a payment option for U.S. users. Eligible customers can now use their Venmo balance, linked bank accounts, credit, or debit cards to fund their MoonPay accounts.
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This new integration allows over 60 million active Venmo users to seamlessly buy and sell cryptocurrency on MoonPay, adding convenience and security to the process.
This Venmo update follows MoonPay’s recent collaboration with PayPal, which already allows U.S. users to fund their crypto transactions directly through their PayPal accounts. This makes it easier for existing PayPal and Venmo users to enter the world of crypto without the hassle of manually entering financial information.
The Benefits of Venmo and PayPal Integration
Both platforms offer fast, trusted payment methods with familiar interfaces, giving users the ability to fund transactions using balances or linked accounts. This includes:
PayPal: PayPal users can buy crypto with their balance, bank account, or debit card directly through MoonPay, without needing to manually input financial information.
Venmo: Venmo users can now use their account to fund MoonPay, making transactions smoother and more convenient.
Both integrations are rolling out for MoonPay users across the U.S. and will be available to its partner network. However, residents of New York and Texas will not be able to access this functionality.
“By integrating PayPal, we are enabling consumers to transact with crypto in an already familiar environment, and significantly lower the barrier to entry for new users.”
Ivan Soto-Wright, MoonPay’s co-founder and CEO
Don’t have a Venmo account? Creating one is easy and free – sign up online or download the Venmo app through the Apple or Google Play app stores.