Crypto.com teams up with PayPal to simplify US crypto purchases
com integrates PayPal for US users to simplify crypto purchases.
The partnership allows seamless transfers and topping up Crypto.com Visa Cards.
The PayPal feature on Crypto.com is currently only available in the US but is expected to expand to more markets in future.
Crypto.com has announced a strategic partnership with PayPal, further expanding its offerings by integrating PayPal as a payment method for US users to purchase cryptocurrencies.
This collaboration marks a significant step towards bridging traditional financial systems with the evolving world of digital currencies, aiming to make crypto more accessible to mainstream users.
US citizens can use PayPal on Crypto.com
The integration allows users to link their PayPal accounts with Crypto.com wallets, enabling seamless transfers and transactions. US users can now fund their crypto purchases directly through PayPal, making it easier than ever to buy a wide range of cryptocurrencies.
In addition to simplifying crypto purchases, this partnership also supports topping up the Crypto.com Visa Card using PayPal, offering users more flexibility in managing their digital assets.
Eric Anziani, President and COO of Crypto.com, highlighted the importance of this development, stating that integrating traditional and digital payment capabilities is critical to the continued mainstreaming of cryptocurrencies. Anziani emphasized that PayPal’s involvement exemplifies the ongoing efforts to provide consumers with a comprehensive and convenient crypto experience.
The growing presence of PayPal in crypto
This partnership comes at a time when PayPal’s presence in the cryptocurrency market is growing rapidly. The market cap of PayPal’s stablecoin, PayPal USD (PYUSD), recently surpassed $1 billion, reflecting strong market confidence and adoption.
🚨 BREAKING: $PYUSD (@PayPal) stablecoin surpasses $1 billion market cap, with the majority of its supply on the @solana blockchain. pic.twitter.com/ESDWirwTTE
— SolanaFloor (@SolanaFloor) August 26, 2024
PayPal’s stock has also surged over 26% this month, underscoring the company’s strategic push into the crypto space.
Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies at PayPal, reiterated the company’s commitment to offering consumer choice. He noted that PayPal has long believed in providing consumers with choice, and our work with Crypto.com is another step in that journey.
While the PayPal feature is currently only available in the US, there are plans to expand it to other markets, further enhancing the global adoption of cryptocurrencies.
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