The buying experience for Shiba Inu enthusiasts has elevated after PayPal teamed up with leading fintech firm MoonPay to allow direct purchases of SHIB and other crypto currencies. This integration is aimed at simplifying digital asset transactions for users across the United States. As per the official blog post, current PayPal users can take advantage of funding options such as PayPal Balance, direct bank withdrawals, or debit cards to initiate crypto transactions.
US PayPal users can now purchase the following cryptocurrencies through MoonPay: • SHIB • and some other crypto
The collaboration eliminates the need for customers to create additional accounts or manually enter payment information, thus streamlining the process and enhancing user experience. Importantly, the partnership also ensures that users’ financial information remains secure, as PayPal does not share full financial data during transactions.
Expressing enthusiasm about the partnership Ivan Soto-Wright, Co-founder and CEO of MoonPay, stated, “PayPal has always been at the forefront of revolutionizing commerce globally. Now more than ever, consumers are exploring different avenues of financial systems—whether that be crypto, retail investing, or digital banking—and this partnership underscores our deep commitment to collaborating with trusted partners in the ecosystem to expand their access.” He added, “By integrating PayPal, we are enabling consumers to transact with crypto in an already familiar environment, and significantly lower the barrier to entry for new users.”
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Besides Shiba Inu, the partnership enables MoonPay users to access over 110 tokens and fund purchases using their linked PayPal accounts. Existing PayPal users can easily make their first purchase with MoonPay, allowing for seamless onboarding. However, this new service is currently available to MoonPay consumers in the United States and is expected to be accessible through MoonPay’s partner networks by mid-2024.
Overall, Shiba Inu is still growing in the meme coin space with its decentralized exchange, ShibaSwap, entering layer-2 Shibarium. According to TronWeekly, this step is intended to improve features and lower transaction costs in the L-2 ecosystem. In general, the goal is to reshape dexes’ operational structure while maintaining the Ethereum blockchain foundation.