MoonPay partners with Ripple on XRP dealings

MoonPay, a cryptocurrency payments company, has partnered with Ripple to provide its customers with direct XRP purchases.

MoonPay announced the cooperation on X on October 16, stating that its clients may now “buy, manage, and store” the XRP XRP coin directly within their MoonPay accounts.

MoonPay users may purchase and sell XRP alongside other popular cryptocurrency assets such as Bitcoin and Tether directly from the app. Customers can also use the app to swap specific coins, including those across chains.

Users can buy cryptocurrency with credit cards, Apple Pay, and Google Pay. The site also works with PayPal to enable cryptocurrency purchases in permitted regions.

The agreement was disclosed after Ripple announced MoonPay as one of its exchange partners ahead of RLUSD’s introduction. MoonPay launched support for PayPal USD (PYUSD), the US-based digital payments giant’s stablecoin,

MoonPay claims to be the first supplier to link with PayPal for both on- and off-ramp services, emphasizing that the integration is available to users across all of MoonPay’s partner platforms. This distinguishes MoonPay from other crypto exchanges with PayPal integration, such as Coinbase.

PYUSD, backed by US dollar deposits, short-term US Treasury bonds, and cash equivalents, is one of the first consumer-facing stablecoins introduced by a major financial services company.

PayPal has actively pushed to increase its footprint in the digital asset market, most recently announcing intentions to enable U.S. corporate customers to buy, sell, hold, and transfer cryptocurrency.

Meanwhile, the business received essential approval from Australian regulator AUSTRAC last month. The registration enables MoonPay to provide cryptocurrency trading services in the country.