MoonPay is excited to announce the launch of PayPal for users across the European Union and the United Kingdom, following a successful introduction in the United States last month.

Users in 24 EU member states and the UK can now purchase cryptocurrency using their PayPal accounts through MoonPay.

The U.S. launch, now available to all users, has shown strong demand for PayPal as a preferred method for buying cryptocurrency, with notable success in the following areas:

• Popularity: PayPal has rapidly become the third most popular payment method in the U.S., surpassing Google Pay, and trailing only behind cards and Apple Pay.
• Increased Engagement: Nearly 90% of users who connect PayPal proceed with a transaction.
• Higher Conversion Rates: New customers using PayPal as their first payment method convert at 1.3 times the rate of those using cards.
• New Demographic: The integration of PayPal with MoonPay has attracted a more mature user base, with an average age of 35 years.

“The success of our PayPal partnership speaks volumes about the value we’re creating together,” said Ivan Soto-Wright, MoonPay’s co-founder and CEO. “Expanding our collaboration to new markets is an incredibly exciting milestone for us. This move will enable us to provide a frictionless experience and lower the barriers to entry to include new users around the world, bringing convenience and trust to our growing customer base.”

The integration facilitates transactions for MoonPay users with existing PayPal accounts. Users can fund their cryptocurrency purchases using PayPal Balance, direct bank withdrawal, or debit card, all without the need to manually enter required details.

MoonPay has been swiftly expanding its PayPal integration to various partners and is already live with platforms including Uniswap, Phantom, BitPay, Changelly, xPortal, Zengo, SafePal, and LOBSTR.

PayPal is currently available to 1% of MoonPay customers in the UK and EU, excluding Croatia, Hungary, and Iceland, with a broader rollout planned in the coming weeks.