Cryptocurrency partnerships continue to have a significant impact on the market, even after the fourth halving event. The crypto market is still considered to be in its early stages, with companies competing for a position. A new partnership has recently been announced between PayPal, one of the world’s largest fintech companies, and MoonPay, a cryptocurrency-focused trading application.
According to a press release from both companies, the partnership will allow individuals in the US to seamlessly purchase cryptocurrencies through MoonPay using PayPal. This can be done through wallet transfers, bank transfers, and bank cards. PayPal, with over 426 million active accounts worldwide, and MoonPay, with more than 15 million users, have joined forces to create a symbiotic relationship.
Ivan Soto-Wright, co-founder and CEO of MoonPay, emphasized that their application provides easy access to cryptocurrencies and highlighted that PayPal will now cover all popular tokens, not just a limited number of major cryptocurrencies. This partnership goes beyond a simple integration like PayPal’s previous partnership with the Web3 wallet MetaMask. PayPal will be embedded within MoonPay’s infrastructure.
In terms of Bitcoin, the market has been closely watching its price. After rising to $59,600 following an interest rate decision, it fell back to $56,500. As of now, Bitcoin is trading around $58,400. During this time, Bitcoin’s market cap has reached $1.15 trillion, while its trading volume has decreased by 10% to $40 billion.
It’s 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.
