MoonPay, a digital assets payment platform, has announced that PayPal payments are now live for its users across the European Union and the United Kingdom. This expansion follows the successful US launch last month, where PayPal became the third most popular payment method for buying crypto.

The integration allows MoonPay users to fund their crypto purchases using their PayPal account, eliminating the need for manual entry of details. This simplifies transactions and provides a frictionless experience for users with existing PayPal accounts. The service is available in 24 EU member states and the UK, with the exceptions of Croatia, Hungary, and Iceland.

The partnership has seen impressive results, including a new demographic of users aged 35 years old, higher conversion rates, and increased engagement. MoonPay's CEO, Ivan Soto-Wright, commented on the success of the partnership, stating that expanding it to new markets is an exciting milestone that will enable the platform to provide a frictionless experience and lower barriers to entry for new users worldwide.

The integration is a significant development for MoonPay, as it became the first platform of its kind to incorporate PayPal. This move provides a wider selection of cryptocurrencies compared to platforms that only offer Ether or the PayPal USD stablecoin.

MoonPay has been actively expanding its services and partnerships. In October, it partnered with Mastercard to advance Web3 integrations and build connections. The company also unveiled its new Swaps feature, which enables users to swap one cryptocurrency for another. In November, it appointed Mike Lempres, a former executive from Coinbase and Andreessen Horowitz, to its board of directors.

In May, MoonPay donated $1 million to the digital advocacy group Stand With Crypto ahead of the 2024 US elections. The company saw significant investor support in November 2021 when it raised $555 million in a Series A funding round led by Tiger Global Management and Coatue, with a valuation of $3.4 billion.

Meanwhile, PayPal has been expanding its services, including the recent announcement that it is expanding its PYUSD stablecoin to the Solana blockchain. The stablecoin includes a feature called "confidential transfers" to provide privacy for users and transparency for regulators.