Meet MoonPay, the “PayPal for Crypto”

The crypto payments company MoonPay has been credited with converting thousands of traditional (fiat) currency users to dedicated crypto investors due to its cutting edge technology and ease of use that has greatly lowered the barrier of entry.

The Miami based company describes itself as a PayPal for the cryptocurrency economy, providing business to business to consumer passports that enable quick and easy crypto transactions. The payments infrastructure company does this by allowing customers to exchange cryptocurrencies and fiat currencies using major payment methods like debit and credit cards, and even Apple, Google, and Samsung Pay accounts.

Supporting more than 90 cryptocurrencies and 30 fiat currencies, MoonPay recently revealed that it had processed over $2 billion worth of transactions since its inception back in 2018.

Most recently, the company made headlines when it managed to raise $555 million in a funding round. In tandem, MoonPay also revealed plans to hire over 200 people, effectively doubling their current headcount and signaling even further growth. CEO of MoonPay Ivan Soto-Wright spoke on the matter saying, “Part of why we’re raising this round is to be able to attract the best talent from anywhere in the world…And we want to expand our coverage. We want to be in more countries. We want to turn on more payment methods.” This equity injection was great news for the company that also managed to nab a valuation of $3.4 billion as a result.

The company cites anti-fraud and ‘know your customer’ efforts as key attraction points as to why it is a game changer in this market, as well as its ever evolving services offered. MoonPay is currently working on streaming the checkout process on NFT platforms in partnership with marketplaces like OpenSea, Binance, and Dapper Labs. Soto-Wright was vocal about the importance of these partnerships and said, “We want to bring a billion people into the crypto economy by 2030. We can do that faster by partnering with other companies.”

In a press release shared on their website, Soto-Wright said, ”We set out to democratize access to the crypto economy by providing the tools for businesses to onboard new users with magical product experiences”. Soto-Wright then went on to add, ”We are on a mission to help billions of people access trillions of dollars of digital value over the next decade and beyond.”

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