Cryptocurrency partnerships have been making significant waves in the market lately, even after the fourth halving event. The crypto market is still considered to be in its early stages, with companies competing for a position. In a recent announcement, PayPal, one of the world’s largest fintech companies, has formed a partnership with MoonPay, a cryptocurrency trading application.
According to the press release, the partnership will allow individuals in the US using MoonPay to seamlessly purchase cryptocurrencies through PayPal using wallet transfers, bank transfers, and bank cards. PayPal, with over 426 million active accounts worldwide, will now cover all popular tokens, expanding its scope beyond just a limited number of major cryptocurrencies. MoonPay, on the other hand, boasts more than 15 million users, which is a significant number.
Ivan Soto-Wright, the co-founder and CEO of MoonPay, described the partnership as “symbiotic.” He emphasized that their application provides easy access to cryptocurrencies and highlighted that PayPal will be integrated into MoonPay’s infrastructure, going beyond a simple integration like PayPal’s collaboration with the Web3 wallet MetaMask.
While the news of this partnership is exciting, the attention is also on Bitcoin (BTC). After reaching $59,600 following an interest rate decision, BTC fell back to $56,500. At the time of writing, BTC is trading around $58,400. During this period, Bitcoin’s market cap has reached $1.15 trillion, but its trading volume has decreased by 10% to $40 billion.
It is important to note that the information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
