Moonpay, an end-to-end solution provider simplifying access to the crypto economy, is entering into a new commercial partnership with PayPal-backed financial operating system Mesh, to enhance the process of depositing and transferring crypto from exchanges.
MoonPay explained that the collaboration will enable users across the industry to purchase crypto using existing fiat and crypto from centralised exchanges including Coinbase. The firm is currently the only on-ramp provider offering this solution to its partners.
The partnership also facilitates easier entry points into crypto for users and expands access to liquidity. MoonPay already offers an array of payment options ranging from debit and credit cards, bank transfers, PayPal, Apple Pay, Google Pay and specialised local payment methods. With this exclusive arrangement with Mesh, MoonPay adds another payment option for its users by offering digital asset deposits from over 300 leading platforms.
“Fiat-to-crypto transactions help new users access and participate in the crypto ecosystem, which fuels the growth of the crypto economy and unlocks new use cases, financial products, and business models,” explained Ivan Soto-Wright, co-founder and CEO of MoonPay. “Our collaboration with Mesh will further improve the user experience, offering users new ways to purchase crypto and accelerating the path towards mainstream crypto adoption.”
Making crypto ‘even easier for new users’
Mesh’s API infrastructure and MoonPay’s fiat-to-crypto on-ramp services complement each other, providing a complete solution for partners with buy, sell, swap, deposit, as well as transfer services. Mesh’s exchange connections include major platforms like Coinbase, Kraken, and Binance.
MoonPay will now offer Mesh as an option for end users to securely authenticate and connect to their CEX of choice through an embedded experience.
Bam Azizi, co-founder and CEO of Mesh, also said: “Our goal is to help onboard the next billion users into crypto. To reach this goal, we must make the user experience as easy and seamless as possible. We are thrilled to be partnering with MoonPay and enhance upon the innovative user experience it has created, further increasing users’ access to liquidity and making it even easier for new users to participate in crypto.”
Mesh has raised over $40million in funding and is backed by notable investors including Money Forward, Galaxy, Samsung Next, PayPal Ventures, MoonPay Ventures and more. In an industry first, PayPal Ventures’ investment was made almost entirely in their native PYUSD stablecoin and transferred the funds on-chain using Mesh’s APIs.
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