Venmo has partnered with MoonPay for its 60 million US users to buy cryptocurrency directly using their Venmo balances.
This new integration, announced on MoonPay’s X page, allows users to buy popular cryptos like Bitcoin (BTC) and Ethereum (ETH). The feature is rolling out across MoonPay’s partner network and will expand to more platforms soon.
MoonPay, known for its convenient payment solutions, continues to build its presence by offering a wide range of payment options.
On October 16, MoonPay partners with Ripple (XRP) to allow users to buy and store XRP directly through its platform. This adds XRP to MoonPay’s offering of other popular cryptocurrencies such as Bitcoin, Ethereum and Tether.
Venmo Collaboration
While details are limited, this collaboration is in line with Venmo’s efforts to provide users with more flexible financial tools as crypto adoption grows.
Last year, PayPal and Venmo announced plans to introduce a new feature that will allow over 70 million Venmo users to transfer crypto to each other directly within the Venmo app.
Venmo users can now buy crypto without linking external bank accounts, simplifying the process of buying crypto through their Venmo wallets.
MoonPay, which already supports over 110 cryptocurrencies, streamlines integration with Venmo for a smooth, user-friendly experience.
