Crypto Marketplace Paxful Integrates MoonPay To Its Platform

Announcements, News | December 18, 2020 By:

Peer-to-peer (P2P) bitcoin marketplace Paxful has announced a partnership with Moonpay, a payments infrastructure solution for cryptocurrency.

Paxful is crypto trading platform that aims to bring financial inclusion to the underbanked and unbanked through P2P finance. Every customer gets a free digital wallet that lets them send, receive, and store bitcoin. They’re cutting out the middleman with their secure escrow service and provide help to their customers with a 24/7 customer support system.

MoonPay is a FinTech company that builds payments infrastructure for crypto. Their on-and-off-ramp suite of products provides a seamless experience for converting between fiat currencies and cryptocurrencies using all major payment methods including debit and credit card, local bank transfers, Apple Pay, Google Pay, and Samsung Pay.

The partnership will give Paxful users an option to make automated debit and credit card payments within the platform and will act as a seamless debit and credit card processor on Paxful accepting three major currencies, USD, EUR, and GBP with a possibility to add more fiat currencies in the future.

This integration will help reduce processing fees, ensure fewer payment rejections, and provide institutions an easy on ramp for usage.

“We’re very happy to have MoonPay on board joining Paxful in its fight to provide fair financial opportunities for everyone,” said Ray Youssef, CEO, and co-founder of Paxful. “We keep expanding our list of payment methods and processors to give our users better access to financial services. Adding MoonPay allows our users to process credit card payments quickly and cheaply. This is an important step in providing a seamless user experience as we always listen to our community and strive to improve our platform.”

Ivan Soto-Wright, Co-Founder and CEO of MoonPay, said that MoonPay and Paxful have a shared commitment to driving global adoption of cryptocurrencies, and this integration brings them another step closer.

“We are delighted to be partnering with one of the leading peer-to-peer crypto marketplaces, and providing reliable payment infrastructure to onboard millions of more users into cryptocurrencies,” Soto-Wright said.