MoonPay, a prominent crypto payments firm, has announced a partnership with Ripple to facilitate direct purchases of XRP for its customers.
MoonPay’s announcement, shared on X (formerly known as Twitter), highlighted that its customers can now easily buy, manage, and store XRP within their MoonPay accounts.
This addition allows XRP to join a growing list of popular cryptocurrencies available on the platform, including Bitcoin, Ethereum, and the stablecoin Tether.
The integration of XRP diversifies MoonPay’s offerings. It also reflects the increasing demand for XRP among investors.
MonnPay’s deal with Ripple
The user-friendly interface of the MoonPay app is designed to streamline the purchasing process.
Customers can buy cryptocurrencies using various payment methods, including credit cards, Apple Pay, and Google Pay.
Furthermore, MoonPay has partnered with PayPal to facilitate crypto purchases in supported jurisdictions, further broadening its reach.
The app’s functionality also includes the ability for users to swap certain cryptocurrencies across different blockchain networks, enhancing flexibility and usability.
The partnership with Ripple comes just one day after Ripple designated MoonPay as one of its exchange partners ahead of the launch of its stablecoin, RLUSD.
This strategic collaboration underscores Ripple’s commitment to expanding its ecosystem and providing users with innovative solutions in the ever-evolving crypto market.
Additionally, earlier in October, MoonPay announced support for PayPal USD (PYUSD), the stablecoin issued by PayPal, further cementing its position as a key player in the digital payments space.
Moreover, MoonPay recently achieved a significant regulatory milestone by securing approval from the Australian Transaction Reports and Analysis Centre (AUSTRAC).
This registration enables MoonPay to offer crypto exchange services in Australia, allowing it to support local payment methods such as Osko and PayID.
This regulatory compliance is crucial for instilling confidence in users and demonstrates MoonPay’s commitment to adhering to legal standards in the countries it operates.
As the cryptocurrency market continues to mature, partnerships like the one between MoonPay and Ripple are pivotal in driving adoption and making digital assets more accessible to the masses.
By simplifying the process of purchasing and managing cryptocurrencies, MoonPay is well-positioned to attract new users and foster a more inclusive financial ecosystem.
By enabling direct XRP purchases and expanding its service offerings, MoonPay is not only enhancing its platform but also contributing to the broader acceptance of digital currencies in everyday transactions.
This collaboration is likely to pave the way for more innovations in the crypto space, benefiting users and the industry as a whole.
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