Venmo Partners with MoonPay for Easy Crypto Transactions

Venmo payment service has partnered with MoonPay to give its 60 million monthly active users better access to cryptocurrency transactions.

According to the press release, eligible U.S. users can now fund their MoonPay accounts using their Venmo balance, linked bank accounts, credit cards, or debit cards. However, the service will not be available for users in New York or Texas.

Source:  X

Additionally, Ripple has also partnered with MoonPay , making XRP accessible to over 20 million users worldwide. This allows users to buy, store, and manage XRP directly through the MoonPay app.

Following this announcement on Oct.16, XRP/USDT saw a 1.20% price increase, reaching $0.5482 within 24 hours. However, as of press time, the token has dropped 1.05% to 0.5456 according to CoinMarketCap.

Moreover, Moonpay also saw a major partnership with PayPal earlier this year, granting 426 million users access to over 100 digital assets. 

Since the partnership, PayPal users across all 50 U.S. states have been able to fund MoonPay transactions through their PayPal balance, bank withdrawals, or debit cards. As of May 2024, about 50% of U.S. users access PayPal integration.