Key Insights
- MoonPay has launched an integration allowing users in the UK and EU to buy cryptocurrencies using PayPal.
- This follows a similar integration MoonPay launched for U.S. users last month, enabling purchases of over 110 cryptocurrencies via PayPal.
- MoonPay says allowing PayPal has helped attract an older user base, with an average age of 35, compared to typical younger crypto buyers.
LONDON (MarketsXplora) – Cryptocurrency payment startup MoonPay said on Wednesday it has launched an integration allowing users in the United Kingdom and European Union to purchase digital assets using their PayPal accounts.
The move follows MoonPay rolling out a similar service for customers in the United States last month, the company said, as it aims to “lower the barriers to entry” for new crypto users globally.
“This will enable us to provide a frictionless experience and include new users around the world,” MoonPay co-founder and CEO Ivan Soto-Wright said in a statement.
MoonPay customers can buy over 110 cryptocurrencies via PayPal
MoonPay customers in the UK and EU can now buy over 110 cryptocurrencies using their existing PayPal balances, bank withdrawals or debit cards, mirroring the U.S. offering unveiled in April.
According to MoonPay, allowing PayPal has helped attract “a more mature user base, with an average age of 35 years old” versus typical younger crypto buyers.
The integration taps into PayPal’s vast reach, with the payments giant boasting over 360 million active user accounts globally as of last year.
London-headquartered MoonPay, which was valued at $3.4 billion after a funding round in April, has emerged as a major on-ramp for users seeking exposure to cryptocurrencies via mainstream payment services.
The firm has struck similar partnerships enabling crypto purchases with debit and credit card providers like Visa and Mastercard as it competes with fiat-to-crypto gateways like Coinbase and Binance.