MoonPay has formally established a partnership with Moonshot, a mobile trading app built on the Solana blockchain, aiming to enhance user experience by introducing automated cross-chain deposits. This new feature is set to benefit over two million users of the Moonshot platform.
With this integration, traders can easily fund their Moonshot accounts by sending cryptocurrencies from any of nine supported networks. MoonPay’s advanced infrastructure manages the technical complexities associated with swapping, bridging, and routing, ensuring a seamless transfer process. The supported networks include Arbitrum, Base, Bitcoin, Binance Smart Chain (BSC), Ethereum, Hyperliquid, Plasma, Polygon, and Solana. Users merely need to select an asset from an external wallet, and MoonPay Deposits will facilitate the transfer, significantly lowering the chances of failed transactions and lost funds, common issues with manual bridging.
Addressing a Major Challenge in Crypto
Transferring digital assets across different blockchains continues to pose significant challenges within the cryptocurrency ecosystem. Manual bridging often involves multiple steps, requiring technical proficiency and posing inherent risks. For Moonshot, which is designed to prioritize user-friendliness, the removal of these complexities represents a substantial enhancement in service delivery.
Ivan Soto-Wright, CEO of MoonPay, emphasized the company’s commitment to facilitating easier value transfers within the crypto sphere, regardless of asset location.
MoonPay Deposits operates solely on its proprietary infrastructure, seamlessly integrating into partner applications and enabling users to complete transactions without exiting the platform.
Enhanced Payment Options
In tandem with the MoonPay integration, Moonshot has also joined forces with Onramper to broaden access to fiat currencies. This collaboration introduces over 180 local payment methods across more than 190 countries, effectively routing users to optimal onramps based on their location and preferred payment methods. Onramper CEO Thijs Maas remarked on the importance of expanding localized payment options to foster greater participation in onchain trading.
It’s important to note that MoonPay Deposits is not available in regions such as New York, the UK, or the European Economic Area (EEA), while Onramper offers services globally, excluding the United States.
What This Partnership Means for Moonshot
Positioning itself as one of the fastest-growing onchain trading platforms, Moonshot integrates a self-custodial wallet that eliminates the need for seed phrases, alongside real-time market data and compatibility with well-known payment options such as Apple Pay. The app has achieved top rankings on the App Store across various countries since its launch.
The combined impact of these two integrations effectively addresses both sides of the funding process: crypto-savvy users can now deposit from nine key networks without the worry of navigating bridges or encountering failed transactions. Meanwhile, new users, particularly those from diverse global regions, can access a vast array of localized fiat payment methods, facilitating their entry into onchain markets.
A representative from Moonshot framed these updates as central to the platform’s mission, stating, “By simplifying deposits, we’re saving users time and effort so they can focus on what they do best: discovering the next great token.”
