Venmo partners with MoonPay to bring crypto to 60m US users

Venmo has partnered with MoonPay for its 60 million U.S. users to buy cryptocurrencies directly using their Venmo balances. 

This new integration, announced on MoonPay’s X page, allows users to purchase popular crypto like Bitcoin (BTC) and Ethereum (ETH). The feature is rolling out to MoonPay’s partner network and will soon extend access to more platforms.

MoonPay, known for its user-friendly payment solutions, continues to build its presence by offering a wide range of payment options. 

On Oct. 16, MoonPay partnered 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 like Bitcoin, Ethereum, and Tether.

Venmo’s collaboration

Although details are limited, this collaboration aligns 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, already supporting over 110 cryptocurrencies, is streamlining the integration with Venmo for a smooth, user-friendly experience.