MoonPay Unveils New Payment Solution to Bridge Fiat and DeFi

MoonPay has introduced MoonPay Balance, a new payment solution designed to enable users to store and spend fiat balances while also providing a seamless entry point into decentralized finance (DeFi).

Initially launched in the UK and 27 European countries (excluding Germany), the service integrates with popular non-custodial wallets such as MetaMask, Phantom, and Bitcoin.com. The solution supports payment methods like SEPA, Faster Payments, and Open Banking, and charges no fees for deposits, withdrawals, or transactions, though partners may impose their own charges.

This move highlights MoonPay’s focus on promoting self-custody, giving users full control over their crypto assets without relying on centralized entities. According to MoonPay’s co-founder and CEO, Ivan Soto-Wright, non-custodial wallets could soon serve as primary bank accounts for users.

By bridging the gap between traditional finance and decentralized systems, MoonPay aims to provide an experience that matches the standards of traditional fintech while enhancing user autonomy.

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In addition to this innovation, MoonPay continues to expand its integration with established financial firms, recently adding PayPal on-ramps for users in the EU and UK. This reinforces MoonPay’s strategy of connecting the traditional and crypto financial worlds, offering users an easy transition into the decentralized ecosystem.

Source

Alexander Stefanov