Venmo has partnered with MoonPay to enable its 60 million users in the U.S. to purchase crypto directly using their Venmo balances.
Announced on MoonPay's X page, this new integration will allow users to purchase popular cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). This feature is being rolled out to MoonPay's partner network and will soon expand access to more platforms.
Known for its user-friendly payment solutions, MoonPay continues to grow its presence by offering a wide range of payment options.
On October 16, MoonPay partnered with Ripple (XRP) to allow users to buy and store XRP directly through the company's platform. This adds XRP to other popular cryptocurrencies like Bitcoin, Ethereum, and Tether offered by MoonPay.
Collaboration with Venmo
Although details are limited, the partnership aligns with Venmo's efforts to provide users with more flexible financial tools as cryptocurrencies become more popular.
Last year, PayPal and Venmo announced plans to introduce a new feature that will allow Venmo's more than 70 million users to transfer cryptocurrencies to each other directly within the Venmo app.
Venmo users can now purchase cryptocurrencies without linking an external bank account, simplifying the process of purchasing cryptocurrencies through their Venmo wallet.
MoonPay already supports over 110 cryptocurrencies and has streamlined its integration with Venmo for a smooth and user-friendly experience.
