MoonPay has launched its latest financial feature, MoonPay Balance, in the United States, providing users with a zero-fee fiat deposit option. The initiative aims to streamline the process of purchasing cryptocurrency, eliminating common barriers such as high fees and payment failures associated with decentralized transactions.
Fiat balances have historically been confined to centralized exchanges and fintech platforms, limiting accessibility for users engaging in decentralized finance (DeFi). With MoonPay Balance, the company seeks to bridge this gap, offering a seamless solution that allows users to top up their accounts and conduct crypto transactions with greater efficiency.
Key Features of MoonPay Balance
MoonPay Balance offers users zero MoonPay fees on all transactions, including deposits, purchases, and withdrawals. Transactions are processed instantly, significantly reducing wait times and mitigating the risk of failed card payments or processing delays.
To access MoonPay Balance, users must complete a Know Your Customer (KYC) verification process. Once verified, they can fund their accounts using multiple payment methods, including ACH transfers, PayPal, and Venmo. The deposited funds can then be used to purchase from a selection of over 60 cryptocurrencies.
Additionally, MoonPay Balance facilitates crypto-to-fiat transactions, allowing users to sell their digital assets back into their balance. Withdrawals can be made to a linked bank account or another supported payment method at any time.
Expansion and Integration Across Crypto Ecosystem
MoonPay Balance was first introduced in November 2024 in the UK and Europe, excluding Germany. The feature has since been integrated across MoonPay’s partner network, which includes prominent crypto platforms such as Phantom, MetaMask, Uniswap, and Bitcoin.com. These integrations ensure a cohesive and consistent experience for users across different services within the decentralized finance ecosystem.
Currently, MoonPay Balance supports multiple payment rails, including SEPA, Faster Payments, Open Banking, and ACH. The company is also working on expanding its payment options, with Wire and Real-Time Payments (RTP) under development.
The launch of MoonPay Balance in the U.S. underscores the company’s broader vision to simplify transactions between fiat and crypto, providing users with a more familiar and convenient financial experience. By reducing transaction costs and streamlining payments, MoonPay aims to make decentralized finance more accessible to a broader audience.
