Venmo has partnered with MoonPay to allow its 60 million U.S. users to purchase cryptocurrencies directly with their Venmo balances.
This new integration, announced on the X MoonPay website, allows users to purchase popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). This feature is already available on the MoonPay affiliate network and will soon expand access to more platforms.
Known for its user-friendly payment solutions, MoonPay continues to build its presence by offering a wide range of payment options.
October 16 MoonPay cooperated with Ripple (XRP) to allow users to buy and hold XRP directly through the platform. This adds XRP to MoonPay’s offering of other popular cryptocurrencies such as Bitcoin, Ethereum and Tether.
Venmo collaboration
While details are limited, this collaboration is in line with Venmo’s efforts to provide users with more flexible financial tools as cryptocurrency adoption increases.
Last year PayPal and Venmo announced plans introduce a new feature that will enable more than 70 million Venmo users to send cryptocurrencies to each other directly within the Venmo app.
Venmo users can now purchase cryptocurrencies without linking external bank accounts, simplifying the process of purchasing cryptocurrencies through Venmo wallets.
Already supporting over 110 cryptocurrencies, MoonPay is streamlining integration with Venmo to provide a seamless and user-friendly experience.
