Cash App and MoonPay Team to Offer Crypto Purchases
MoonPay says it is the first/only platform offering Cash App Pay for digital asset purchases. That means eligible U.S. customers can now use their Cash App balance to buy digital assets on MoonPay and via select partners on its network, the company announced Tuesday (Aug. 18). “Cash App is where tens of millions of Americans already manage their money,” Ivan Soto-Wright, […] The post Cash App and…
MoonPay and Cash App have teamed up to enable U.S. customers to buy digital assets using their Cash App balance, according to the company's news release. Cash App Pay, which is already popular among tens of millions of Americans, will allow users to instantly fund their purchases without leaving the "MoonPay buy flow." MoonPay, a leading player in the crypto space, holds regulatory licenses in multiple countries, including the U.S., EU, U.K., Australia and Canada.
This partnership aims to provide customers with a seamless, familiar payment experience while offering a wide range of payment options, including Trust Wallet, Bitcoin.com, MetaMask, and several others. Morgan Kuntze, Global Partnerships lead at Cash App's parent Block, emphasized the importance of choice and flexibility for consumers.
PYMNTS Intelligence reported that consumers are increasingly interested in using cryptocurrencies and stablecoins for purchases, but currently, their choices are limited due to acceptance, trust, and uneven payment experiences. The report suggests that familiar apps could serve as the front door for users to enter the crypto world, with 77% of consumers indicating they would open a crypto or stablecoin wallet through an existing banking or FinTech app.
Written by urgent.news from PYMNTS's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
