Venmo has announced a partnership with MoonPay, allowing its 60 million users in the United States to buy cryptocurrencies directly using their Venmo balances. This integration, shared on MoonPay’s X page, enables users to purchase well-known cryptocurrencies, including Bitcoin and Ethereum. The feature is currently rolling out within MoonPay’s partner network and is expected to expand to additional platforms shortly.
Known for its user-friendly payment solutions, MoonPay is enhancing its offerings by providing a variety of payment options. On October 16, the company also partnered with Ripple to facilitate the purchase and storage of XRP directly through its platform, further broadening its portfolio of cryptocurrencies, which includes Bitcoin, Ethereum, and Tether.
While specific details about the Venmo-MoonPay collaboration remain scarce, the partnership reflects Venmo’s commitment to equipping its users with versatile financial tools amid the growing adoption of cryptocurrency.
Last year, Venmo and its parent company, PayPal, revealed plans to introduce a feature that would allow over 70 million Venmo users to transfer cryptocurrencies directly within the app. This latest collaboration enables Venmo users to buy crypto without the need to link external bank accounts, streamlining the purchasing process directly through their Venmo wallets.
With MoonPay already supporting more than 110 cryptocurrencies, the integration aims to provide a seamless and user-friendly experience for cryptocurrency transactions on Venmo.
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