MoonPay has expanded its services to include PayPal USD (PYUSD), a USD-pegged stablecoin issued by Paxos Trust Company.
Expanded Payment Options for Crypto Purchases
Users in all supported countries (except Canada) can now purchase PYUSD through MoonPay using major payment methods. This integration follows MoonPay's partnership with PayPal announced earlier in 2024, enabling users to buy and sell cryptocurrencies directly from their PayPal accounts.
Key Benefits of the Integration:
- Higher transaction success rates: Addresses common debit card declines for crypto purchases
- Streamlined checkout: Existing PayPal users skip manual card entry
- Broader asset selection: Access to 110+ coins and tokens beyond PYUSD and Ethereum
Market Impact and User Accessibility
Approximately half of MoonPay's U.S. customer base is expected to utilize this new functionality. The company plans to extend PayPal integration to UK and EU markets soon.
👉 Discover seamless crypto transactions with MoonPay
MoonPay distinguishes itself as the first platform to offer bidirectional PayPal integration, making the feature available across all partner platforms. This contrasts with exchanges like Coinbase that only support one-way PayPal functionality.
About PayPal USD (PYUSD)
PYUSD represents one of the first consumer-facing stablecoins launched by a major financial services company. Its reserves include:
- U.S. dollar deposits
- Short-term U.S. Treasuries
- Cash equivalents
Stablecoin Market Performance
After peaking at $1 billion in January, PYUSD's market capitalization has stabilized around $705 million. An interesting development:
- Initial Solana-based supply outpaced Ethereum
- Current Ethereum supply now exceeds Solana's
PayPal's Crypto Strategy Expansion
PayPal continues advancing its digital asset initiatives, recently announcing plans for U.S. business accounts to:
- Buy and sell cryptocurrencies
- Hold and transfer digital assets
👉 Explore PayPal's crypto services
FAQ Section
Q: Which countries support PYUSD purchases on MoonPay?
A: All supported markets except Canada currently have access.
Q: Can I use PayPal to buy any cryptocurrency on MoonPay?
A: Yes, the integration supports 110+ coins/tokens beyond just PYUSD.
Q: How does this improve transaction success rates?
A: PayPal's payment infrastructure reduces common card declines associated with crypto purchases.
Q: Will MoonPay expand PayPal integration to Europe?
A: Yes, UK and EU expansions are planned for the near future.
Q: What makes PYUSD different from other stablecoins?
A: It's backed by a combination of dollar deposits, Treasuries, and cash equivalents for stability.
Q: Can businesses use PYUSD through MoonPay?
A: Currently for individual accounts only, but PayPal plans business crypto services separately.
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