Shiba Inu scored another major registration as PayPal users in the United States can now purchase the dog-themed cryptocurrency through MoonPay, opening new avenues of adoption and potentially fueling a rise in prices.
PayPal partners with MoonPay for access to Shiba Inu
American multinational financial technology company PayPal has achieved a strategic partnership with MoonPay, a crypto payment platform, allowing US users to access cryptocurrency assets like Shiba Inu. MoonPay made it exciting announcement on X (formerly Twitter), revealing that PayPal can now offer seamless fiat-to-crypto transactions in the United States.
The integration of MoonPay services into PayPal marks an important step in the democratization of cryptocurrencies in the United States. MoonPay revealed that it would allow PayPal users to purchase over 110 cryptocurrencies, including dog-themed cryptocurrency Shiba Inu.
Through this collaboration, millions of users across all 50 states will be exposed to Shiba Inu Tokenspresenting a step forward in the field of cryptocurrency vision for widespread adoption. This in turn could drive up the price of the cryptocurrency as it attracts new investors from different parts of the country.
Moreover, after the announcement of the partnership, the price of the Shiba Inu has increased considerably. The cryptocurrency rose from $0.000022 to $0.000024 in a single day, increasing by 7.72% in the last 24 hours, according to CoinMarketCap.
MoonPay has outlined the process for users to access its vast library of cryptocurrencies through PayPal, revealing this new MoonPay users with a Paypal account can seamlessly carry out cryptocurrency transactions online.
Bitcoin is now trading at $63.866. Chart: TradingView
The crypto payment platform revealed that PayPal users can fund their crypto accounts through different channels, including direct bank withdrawal, PayPal balance, and debit card.
Welcoming this crucial partnership, MoonPay co-founder and CEO Ivan Soto-Wright highlighted the importance of the alliance, aimed at facilitating wider adoption of cryptocurrency within familiar ecosystems.
He revealed that MoonPay’s integration into PayPal highlights the crypto platform’s deep commitment to expanding access to cryptocurrencies through trusted networks.
MoonPay set to transform PayPal crypto access
Including Shiba Inu, MoonPay will also to agree PayPal users in the United States have access to major cryptocurrencies like Solana (SOL), Ethereum (ETH), Dogecoin (DOGE), Bitcoin (BTC) and others. Additionally, the crypto services platform revealed that other crypto assets initially available on its platform, such as Pepe (PEPE), Cosmos (ATOM), Toncoin (TON), Binance Coin (BNB) and a few others, are no longer available. will not be available in the United States. users.
MoonPay also revealed the key benefits it will offer PayPal through its crypto services, including flexible payment methods, a wide variety of cryptocurrencies, seamless integration, transaction speed and other user-friendly features.
Additionally, the cryptocurrency platform hinted that in the third quarter (Q3) of 2024, it plans to integrate PayPal into its partner networks, expanding adoption opportunities for cryptocurrencies like Shiba Inu, which could potentially increase the value of the token.
Featured image from Pexels, chart from TradingView
