PayPal has become a new payment method option for users on Crypto.com for seamless transferring of funds to and from either the fiat or crypto wallets.
Initially rolled out to US customers, with plans to offer the payment method in additional markets, a user can connect their PayPal and Crypto.com wallets more seamlessly to purchase a range of cryptocurrencies on the exchange platform.
Eligible Crypto.com users can add their own PayPal account as an alternative payment method for crypto purchases, or to top up their Crypto.com Visa Card for users in the US.
Eric Anziani, President and COO of Crypto.com, said: “Further integrating traditional and digital payment capabilities is critical to the continued mainstreaming of cryptocurrencies.
“PayPal is the digital commerce leader and shares our vision of consumers being able to safely and efficiently engage with digital currencies. We are tremendously proud to further our efforts with PayPal to continue to provide consumers around the world the most comprehensive and convenient crypto experience.”
The milestone marks the latest collaboration between Crypto.com and PayPal, following initiatives to enable the use of PayPal to top up the Crypto.com Visa Card.
The partnership has also seen Crypto.com integrate PayPal’s native stablecoin PYUSD, enabling the digital currency as a payment solution on Crypto.com Pay.
PYUSD recently hit the $1bn in total market capitalisation only a year after launching. The 1:1 US dollar-backed stablecoin became the first native stablecoin launched by one of the largest financial services companies.
The stablecoin was then launched on the Solana blockchain network, which significantly bolstered its usage and market capitalisation.
Jose Fernandez da Ponte, SVP of Blockchain, Cryptocurrency, and Digital Currencies at PayPal, stated: “PayPal has long believed in providing consumers choice and our work with Crypto.com to provide our mutual users the ability to use PayPal to fund their crypto.com purchases is another step in that journey.
“We’re very excited to offer this ability and expand our collaboration with Crypto.com.”
