London, UK, Friday, June 28, 2024 – Following a successful launch in the United States, MoonPay, a fiat-to-crypto payment platform, announced the expansion of its partnership with PayPal to users in the European Union (EU) and the United Kingdom (UK). 1
This integration allows users to purchase cryptocurrency directly using their existing PayPal accounts.
The rollout is currently limited to 1% of MoonPay users in the EU and UK, excluding Croatia, Hungary, and Iceland, with a broader launch planned for the coming weeks.
Users can fund their crypto purchases with their PayPal balance, direct bank withdrawals, or debit cards, eliminating the need for manual entry of payment details.
MoonPay highlighted the positive results of the U.S. launch, including attracting a new demographic of users with an average age of 35 and establishing PayPal as the third most popular payment method on their platform, following debit/credit cards and Apple Pay.
The success of MoonPay’s service expansion into the EU and UK follows its launch in the US last month.
On May 2, MoonPay partnered with PayPal and made the service available to all users, citing strong demand for PayPal as a crypto payment option.
The company reported “impressive results,” including tapping into a more mature demographic with an average user age of 35 years. PayPal emerged as the third most popular payment method in the US, slightly trailing cards and Apple Pay.
Nearly 90% of users who linked to PayPal completed transactions, and new customers using PayPal as their primary payment method showed a conversion rate 1.3 times higher than those using cards.
MoonPay highlighted this integration as a significant milestone, making it the first platform of its kind to integrate with PayPal, offering a broader range of cryptocurrencies compared to platforms limited to Ether or the PayPal USD stablecoin.
