Crypto.com and PayPal are teaming up to use PayPal as a funding method for Crypto.com users.
This collaboration enables U.S. users to fund their crypto purchases using PayPal. By linking their PayPal and Crypto.com wallets, users can easily transfer digital assets. Although currently available only in the U.S., the company plans to expand this feature to other markets.
The introduction of PayPal as a payment method enhances Crypto.com’s offerings, allowing users also to top up their Crypto.com Visa Cards.
This news comes as PayPal’s stock has surged over 26% this month, with the market cap of its stablecoin, PayPal USD (PYUSD), just surpassed $1 billion, reflecting strong growth from its $264 million starting point earlier this year. PayPal stands to earn significant interest income from PYUSD.
PayPal’s ventures into crypto
Eric Anziani, President and COO of Crypto.com, emphasized that integrating traditional and digital payment systems is vital for mainstream crypto adoption, noting that PayPal exemplifies this.
“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,”
Eric Anziani.
This partnership builds on previous collaborations between the two companies, such as enabling PayPal to top up the Crypto.com Visa Card and establishing Crypto.com as a preferred exchange for PYUSD.
Source: https://crypto.news/crypto-com-and-paypal-team-up-to-simplify-us-crypto-purchases/