- Following a recent partnership with MoonPay, PayPal users in the United States can now seamlessly purchase Shiba Inu (SHIB) tokens internally.
- This integration allows users to fund their crypto purchases using PayPal balance, debit cards, or direct bank transfers, without the need for manual input.
After the recent collaboration with prominent crypto payment processor MoonPay, PayPal users within the United States can now internally purchase Shiba Inu (SHIB) tokens. MoonPay disclosed the significant partnership with PayPal on Thursday, May 2, aiming to streamline the conversion process from fiat currency to crypto assets, including Shiba Inu.
Thanks to this collaboration, PayPal users in the U.S. can effortlessly purchase cryptocurrencies such as Shiba Inu through MoonPay, a crypto payment processor.
🌙 Exciting news from MoonPay! 💳
Today, we’re thrilled to announce a game-changing integration: MoonPay has partnered with @PayPal to offer seamless fiat-to-crypto transactions for users in the U.S.!
🧵👇 pic.twitter.com/N3kobMR2ru
— MoonPay 🟣 (@moonpay) May 2, 2024
Moreover, the report emphasizes that this integration streamlines the crypto acquisition process for MoonPay customers who hold a PayPal account for online transactions. Specifically, users opting for PayPal can fund their crypto acquisitions using their PayPal balance, debit cards, or direct bank transfers.
Interestingly, existing PayPal users need not manually input any of these details during their crypto purchase transactions. This development is particularly noteworthy following increasing anticipation from the Shiba Inu community about PayPal’s acceptance of SHIB payments. Now, MoonPay has opened a gateway for users in the United States to seamlessly acquire SHIB tokens using PayPal.
Much recently, PayPal has been working to expand its wings in the crypto market and plans to introduce its own USD-pegged stablecoin PYUSD in the market, per the Crypto News Flash report. The platform already facilitates Bitcoin purchases and payments. It would be a big move if PayPal could integrate support for other altcoins.
Users Can Buy More Crypto tokens on PayPal
Additionally, MoonPay underscored that U.S. users can utilize this new integration to access over 110 supported cryptocurrencies. Among the crypto assets supported by MoonPay are Shiba Inu, Bitcoin, Ethereum, Cardano, and Solana, all purchasable via PayPal balance.
However, certain assets initially supported by the payment processor are not available for purchase through PayPal, as they are inaccessible to U.S. users. These assets include PEPE, BNB, Cosmos (ATOM), AAVE, UNI, and TON, among others.
It’s important to note that while crypto purchases through PayPal are presently accessible to MoonPay users in the U.S., the report indicated that this solution is anticipated to expand across MoonPay’s partner networks by year-end.
Furthermore, MoonPay has signaled that in the near future, U.S. users will have the opportunity to sell cryptocurrencies using PayPal. The payment processor also disclosed plans to extend this service to users in the U.K. and the EU.
Last year, Shibarium-based decentralized exchange (DEX) Marswap introduced a feature last year that allows investors to purchase and sell the Shiba Inu ecosystem token BONE using PayPal.
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