Venmo has collaborated with MoonPay to enable its 60 million American users to purchase cryptocurrencies with their Venmo balances.
The X account of MoonPay announced this new connection, which enables customers to buy well-known cryptocurrencies like Ethereum and Bitcoin.
The function gradually expanded to other platforms and is currently available on MoonPay’s partner network.
MoonPay, a well-known provider of user-friendly payment solutions, keeps increasing its clientele by providing a variety of payment choices.
MoonPay and Ripple joined on October 16 to enable users to purchase and store XRP directly through MoonPay’s platform.
With this, MoonPay’s selection of well-known cryptocurrencies, including Bitcoin, Ethereum, and Tether, also includes XRP.
Venmo’s Partnership
Limited information notwithstanding, this partnership is consistent with Venmo’s goal to give customers more adaptable financial tools as the use of cryptocurrencies increases.
The introduction of a new feature enabling over 70 million Venmo users to send cryptocurrency to each other straight within the Venmo app was announced by PayPal and Venmo last year.
Venmo wallet users may now purchase cryptocurrency without connecting third-party bank accounts, making the process easier.
For a seamless, user-friendly experience, MoonPay—which already supports over 110 cryptocurrencies—is optimizing the integration with Venmo.
