MoonPay Expands Payment Options with Venmo Integration for Crypto Purchases

MoonPay has introduced a new payment option for U.S. customers by adding Venmo as a way to fund accounts, making it easier to purchase cryptocurrencies.

Users can now use their Venmo balance or linked payment methods, like bank accounts and credit cards, to pay for services on MoonPay. This expansion aims to simplify the process for Venmo’s 60 million monthly active users who want to explore digital assets.

The Venmo integration comes shortly after MoonPay’s recent addition of PayPal as a funding option, giving users more flexibility. However, Venmo won’t be available as a payment option for MoonPay users in New York or Texas.

With this move, MoonPay continues to lower the barriers for cryptocurrency adoption by providing familiar payment methods. Ivan Soto-Wright, MoonPay’s co-founder and CEO, emphasized that adding popular payment options like PayPal helps make the platform more accessible for newcomers.

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MoonPay’s efforts to expand payment options follow its recent collaboration with Polymarket to facilitate online payments for election-related betting, which has seen a surge in interest ahead of the U.S. presidential race.

Alexander Zdravkov