Crypto.com Enables PayPal Payments for Crypto Purchases in EU

Crypto.com has announced that EU users can now fund crypto purchases directly through PayPal. According to the company, the integration aims to simplify the process for millions of European customers looking to enter or expand in the crypto space, bridging the gap between traditional finance and digital assets.

Bringing Crypto Closer to Everyday Users

The new feature allows Crypto.com users in the EU to purchase cryptocurrencies with their PayPal accounts. By doing so, the company aims to reduce friction for users who may be hesitant to link a bank account or use a credit card directly for crypto transactions.

EU Customers: You can now use @PayPal to fund purchases of crypto in the https://t.co/vCNztATkNg App, taking us one step closer to our vision of cryptocurrency in every wallet!👛 Supports 400+ tokens ⚡ Direct and instant (cont) https://t.co/LFPsFR1rL7 pic.twitter.com/S0bPNsj7y7

PayPal has been expanding its involvement in digital assets over the past few years, offering crypto buying, selling, and transfers in select markets. Last year, the online payment platform announced support for cryptocurrency for US business account holders. The offering allows merchants to buy, hold, and sell cryptocurrencies directly through their PayPal business accounts.

PayPal Boosts Crypto Offerings

In 2023, PayPal went a step further to launch a stablecoin, PayPal USD (PYUSD), backed by US dollar reserves. According to the company, this digital asset is used as a funding instrument across PayPal, including for international transfers on Xoom, a PayPal-owned platform.

Meanwhile, Crypto.com recently benefited from the more lenient regulations by the US administration, announcing that the Securities and Exchange Commission (SEC) has officially closed its investigation into the crypto exchange and decided not to file any enforcement action.

“Under the previous administration, the SEC weaponized and attempted to expand its congressionally granted power in order to harm an industry that its former chair disfavoured,” Nick Lundgren, Chief Legal Officer of Crypto.com, said.