The move opens the door to crypto for PayPal’s 426 million users.
Payments behemoth PayPal has integrated with crypto buying app MoonPay, giving its 426 million U.S. customers access to over 100 cryptocurrencies.
“MoonPay continues to onboard the world to the digital economy,” said a video published by the MoonPay X account today. “Crypto just got fast, easy, and seamless.”
PayPal users will now have access to more than 110 cryptocurrencies, according to a blog post by MoonPay. PayPal previously offered Bitcoin, Ethereum, and PYUSD cryptocurrencies for its users to buy, sell and send.
PayPal is taking the crypto ecosystem seriously. Last year, the company unveiled PYUSD, its in-house stablecoin pegged 1:1 with the US Dollar, while last month it announced it will enable the stablecoin for U.S. customers sending money across borders via its Xoom transfer service.
PYUSD’s market capitalization has been soaring, up 74% in the past thirty days from $197 million to $337 million, turning the volume up on a stablecoin war dominated by Tether’s USDT and Circle’s USDC.
PayPal is adding support for hundreds of cryptocurrencies on a U.S. platform at a time when U.S. securities regulators have been relentless in their crackdown of crypto tokens, calling dozens of them “unregistered securities offerings,” and have opened lawsuits against several big-name crypto-native companies like Coinbase and Binance.
