The payments company announced that U.S. customers can now use their Venmo accounts to buy digital assets like Bitcoin through MoonPay.
🚨 Breaking News: Venmo’s 60 million users in the U.S. can now buy crypto using MoonPay!
💰 This new integration lets you buy all your favorite cryptocurrencies using your Venmo balance.
🚀 Live now and rolling out soon to the MoonPay partner network. pic.twitter.com/VoUjMCbOcS
— MoonPay 🟣 (@moonpay) October 17, 2024
Venmo, a mobile payment app owned by PayPal with over 60 million users, has integrated with MoonPay, a platform that supports the buying, selling, and swapping of digital currencies.
Users can fund Bitcoin and crypto purchases through their Venmo balance, bank transfer, or debit card.Â
MoonPay also stated that this service is currently unavailable to users in New York and Texas.
This development is part of PayPal’s ongoing strategy to increase Bitcoin and cryptocurrency access.Â
In September, PayPal allowed U.S. merchants to manage Bitcoin and cryptocurrencies directly from their business accounts.
Additionally, PayPal introduced its stablecoin, PayPal USD (PYUSD), last year. In April, PayPal announced that PYUSD could be converted to U.S. dollars for international payments through its Xoom service.
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