Crypto.com and PayPal team up to simplify US crypto purchases

Crypto.com and PayPal are partnering to use PayPal as a funding method for Crypto.com users.

The partnership allows US users to fund their crypto purchases using PayPal. By connecting their PayPal and Crypto.com wallets, users can easily transfer digital assets. While currently only available in the US, the company plans to expand the feature to other markets.

The introduction of PayPal as a payment method expands Crypto.com’s service offering and allows users to top up their Crypto.com Visa Cards as well.

The news comes as PayPal’s stock has surged more than 26% this month. The market value of its stablecoin PayPal USD (PYUSD) has surpassed $1 billion, reflecting strong growth from its $264 million starting point earlier this year. PayPal expects to earn significant interest income from PYUSD.

PayPal’s foray into crypto

Eric Anziani, President and COO of Crypto.com, emphasized that integrating traditional and digital payment systems is vital for the mainstream adoption of cryptocurrencies, noting PayPal as an example of this.

“PayPal is a digital commerce leader and shares our vision for consumers to interact with digital currencies securely and efficiently. We are proud to further our efforts with PayPal to continue to deliver the most comprehensive and convenient crypto experience to consumers around the world.”

Eric Anziani.

This partnership builds on previous collaborations between the two companies, such as enabling PayPal to load funds onto the Crypto.com Visa Card and making Crypto.com the preferred exchange for PYUSD.