Crypto.com has added PayPal as a payment method for its US-based users to fund purchases of cryptocurrencies. This feature will soon be available in additional markets beyond the U.S.
By connecting their PayPal and Crypto.com wallets, users in the U.S. can seamlessly transfer funds from PayPal to Crypto.com to purchase the range of crypto tokens available in their market.
Eligible Crypto.com users in these markets can now add their own PayPal account as an alternative payment method for crypto purchases, or to top up their Crypto.com Visa Card for users in the United States.
Crypto.com and PayPal have previously worked together to enable the use of PayPal to top up the Crypto.com Visa Card, establish Crypto.com as a preferred PayPal USD (PYUSD) exchange, and enable PYUSD on Crypto.com’s payment solution, Crypto.com Pay.
“Critical to the continued mainstreaming of cryptocurrencies”
Eric Anziani, President and COO of Crypto.com, said: “Further integrating traditional and digital payment capabilities is critical to the continued mainstreaming of cryptocurrencies. PayPal is the digital commerce leader and shares our vision of consumers being able to safely and efficiently engage with digital currencies. We are tremendously proud to further our efforts with PayPal to continue to provide consumers around the world the most comprehensive and convenient crypto experience.”
Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal, commented: “PayPal 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. We’re very excited to offer this ability and expand our collaboration with Crypto.com.”
Crypto.com added Ireland’s VASP license to roster of authorizations
Crypto.com has recently received approval as a Virtual Asset Service Provider (VASP) from the Central Bank of Ireland, enabling it to further its offering in Ireland, including crypto-to-fiat exchanges and fiat wallets. The VASP license assures that Crypto.com’s compliance procedures are top-tier, including when it comes to anti-money laundering and combating the financing of terrorism (AML/CFT). These issues are very relevant today as cryptocurrencies have become a popular way to circumvent laws and sanctions. Crypto.com caters to a global client base of 100 million customers.
Crypto.com is a multi-regulated crypto trading platform boasting regulatory authorizations in several jurisdictions, including:
- Major Payment Institution (MPI) license for Digital Payment Token (DPT) and its MPI for e-money issuance, account issuance, cross border and domestic money transfer services from the Monetary Authority of Singapore;
- registration as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France;
- full operational approval of its Virtual Asset Service Provider Licence from the Dubai Virtual Assets Regulatory Authority (VARA);
- authorization as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA);
- Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea;
- registration approval as a Digital Currency Exchange Provider and Independent Remittance Dealer in Australia by AUSTRAC; an Australian Financial Services Licence and Australian Credit Licence from the Australian Securities and Investments Commission (ASIC);
- registration in Spain as a Virtual Asset Service Provider (VASP) from the Bank of Spain; registration in Italy from the Organismo Agenti e Mediatori (OAM);
- registration in Greece from the Hellenic Capital Market Commission; registration in Cyprus from the Securities and Exchange Commission;
- regulatory approval from the Cayman Islands Monetary Authority;
- a US Commodity Futures Trading Commission (CFTC) regulated Derivatives Clearing Organization (DCO) and a Designated Contracts Market (DCM);
- and a pre-registration undertaking with the Ontario Securities Commission and Canada Securities Administrators.
