Shiba Inu has scored another major listing as PayPal users within the United States can now buy the dog-themed cryptocurrency through MoonPay, opening up new avenues for adoption and potentially fueling a price increase.
PayPal Teams Up With MoonPay For Shiba Inu Access
American multinational financial technology company PayPal has made a strategic partnership with MoonPay, a crypto payment platform, allowing US users to access cryptocurrency assets like Shiba Inu. MoonPay made the exciting announcement on X (formerly Twitter), revealing that PayPal can now offer seamless fiat-to-crypto transactions within the US.
The integration of MoonPay’s services into PayPal marks a significant milestone in the democratization of cryptocurrencies in the US. MoonPay has disclosed that it will allow PayPal users to purchase over 110 cryptocurrencies, including doggy-themed cryptocurrency, Shiba Inu.
Through the collaboration, millions of users in all 50 states of the US will be exposed to Shiba Inu tokens, presenting a step forward in the cryptocurrency’s vision for mainstream adoption. This could in turn potentially 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 Shiba Inu surged considerably. The cryptocurrency jumped from $0.000022 to $0.000024 in just a day, increasing by 7.72% over the past 24 hours, according to CoinMarketCap.
MoonPay has outlined the process for users to access its extensive library of cryptocurrencies via PayPal, disclosing that new MoonPay users with a PayPal account can seamlessly conduct online cryptocurrency transactions.
Bitcoin is now trading at $63.866. Chart: TradingView
The crypto payment platform disclosed that PayPal users can fund their crypto accounts through different channels including direct bank withdrawal, PayPal balance, and debit card.
Welcoming the pivotal partnership, MoonPay’s co-founder and Chief Executive Officer (CEO), Ivan Soto-Wright, emphasized the importance of the alliance, aimed at facilitating broader cryptocurrency adoption within familiar ecosystems.
He disclosed that MoonPay’s integration into PayPal underscores 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 grant PayPal users within the US access to top cryptocurrencies like Solana (SOL), Ethereum (ETH), Dogecoin (DOGE), Bitcoin (BTC), and others. Additionally, the crypto service platform has revealed that other crypto assets initially available on its platform such as Pepe (PEPE), Cosmos (ATOM), Toncoin (TON), Binance Coin (BNB) and a few more, will not be accessible to US users.
MoonPay has also revealed key benefits it will be offering PayPal through its crypto services, including flexible payment methods, an extensive variety of cryptocurrencies, seamless onboarding, transactional speed, and other user-friendly features.
Furthermore, the crypto platform has hinted that in the third quarter (Q3) of 2024, it plans to integrate PayPal into its partner networks, expanding opportunities for the adoption of cryptocurrencies like Shiba Inu, which could potentially boost the token’s value.
Featured image from Pexels, chart from TradingView
