Crypto.com Partners PayPal for US Crypto Purchases

Crypto.com has inked a deal with PayPal to offer crypto purchases for users in the United States.

The feature, which will soon be available beyond the US, will allow users to connect their PayPal and Crypto.com wallets to transfer funds from the former to the latter to buy cryptocurrencies.

Under the partnership, eligible users will be able to use their PayPal accounts as an alternative payment method for crypto purchases and to top up their Crypto.com Visa card.

“Further integrating traditional and digital payment capabilities is critical to the continued mainstreaming of cryptocurrencies,” said Eric Anziani, president and COO of Crypto.com.

“PayPal is the digital commerce leader and shares our vision of consumers being able to safely and efficiently engage with digital currencies.”

Jose Fernandez da Ponte, senior vice president of blockchain, cryptocurrency, and digital currencies at PayPal, said that the firm has "long believed in providing consumers choice and our work with Crypto.com to provide our mutual users the ability to use PayPal to fund their crypto.com purchases is another step in that journey."

Crypto.com currently serves as a preferred PayPal USD (PYUSD) exchange. The PayPal stablecoin recently hit a $1 billion market cap after expanding to Solana in May this year.  

PayPal also partnered with TripleA, a Singapore-based payment solutions provider, to integrate PYUSD into their platform. This means merchants using TripleA can now accept PYUSD as a payment option, further expanding the reach and utility of PayPal's stablecoin.