New updates have been reported about MoonPay (PC:MOOPX)
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MoonPay, a leader in crypto payment solutions, has unveiled a strategic partnership with Mass, an on-chain mobile app, to simplify the process of transferring funds into decentralized finance (DeFi). This collaboration introduces MoonPay’s Virtual Accounts, enabling users in the U.S. and EU to seamlessly fund their Mass wallets using traditional banking methods like ACH, wire transfers, or SEPA. Each user is assigned a dedicated virtual account linked to their Mass profile, facilitating the direct conversion of bank funds into stablecoins without delay. This initiative is powered by Iron, a company acquired by MoonPay earlier this year, which provides real-time settlement and direct bank connectivity, ensuring a smooth user experience without holding user funds.
The introduction of Virtual Accounts marks a significant step in MoonPay’s mission to integrate traditional finance with the crypto ecosystem. By offering a familiar banking experience, MoonPay aims to bridge the gap between conventional banking and DeFi, enhancing user convenience and accessibility. This development is expected to drive further adoption of crypto by simplifying the user journey, as emphasized by Rudy Kadoch, CEO of Mass, who highlighted the ease of topping up, receiving payments, or cashing out directly within the app. As MoonPay continues to expand its infrastructure, the company remains a pivotal force in mainstream crypto adoption, boasting a customer base of 30 million and partnerships with nearly 500 companies. With comprehensive licensing and regulation across major markets, MoonPay is poised to continue its role in transforming payment systems globally.