24

November, 2021

Is MoonPay really “the PayPal for Crypto”?

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Is MoonPay really “the PayPal for Crypto”?

MoonPay is a startup in the blockchain industry, with a focus on payments that has led some to dub it “the Paypal for crypto”.
 
The company builds payment infrastructure for crypto, specifically swap products and fiat/crypto on-ramp and off-ramps.
 
In the current environment, MoonPay primarily focuses on fiat-to-crypto swaps, allowing users to buy more than 80+ different crypto assets using major payment methods like debit cardscredit cardsbank transfers, and even Apple Pay.
 
Still, the company’s long-term goal is to integrate itself into the growing digital economy, acting as an intermediary for both consumers and businesses transacting with disparate digital assets.
 
Moonpay is already showing phenomenal growth for a company founded in 2019 —  Consumer Mentions of utilizing its services to purchase cryptocurrencies have surged to new highs near-term: +345% QoQ on a 30-day moving average.
MoonPay recently received a valuation of $3.4B and $555M worth of funding to accelerate growth – The company plans to put that money towards new employees and acquisitions.
 
Things certainly look promising for MoonPay, but it’s still dealing with a Consumer Happiness problem in the States.
 
Sentiment has fluctuated wildly this year, swinging from 80% positive to 30% positive in a matter of months – Happiness is currently split at ~50% positive (90d moving average).

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