Polymarket pop, Venmo vibes, and our “Power Partner” award

Welcome to MoonPay Monthly, where we share business updates, new partnerships, and curated insights from our team. This is the October 2024 recap.

POLYMARKET VOLUME SOARS

Polymarket activity skyrocketed in the run-up to the U.S. Presidential Election. In just the first five days of November, the prediction market topped its total 2023 trading volume.

MoonPay announced an exclusive partnership with Polymarket in July, enabling its users to buy crypto using major payment methods. 

VENMO LIVE FOR U.S. USERS

On October 17th, MoonPay integrated Venmo as a payment option.

Over 60 million people use Venmo daily to send money, split bills, and make secure purchases. Now they can connect their Venmo account to MoonPay and MoonPay's partner network using their balance as a payment method across the crypto ecosystem.

The integration simplifies crypto transactions for new users who already have a Venmo account and allows existing users to benefit from the safety of Venmo. 

The announcement came on the heels of MoonPay’s earlier integration with PayPal, which offers users the ability to purchase crypto using their PayPal account.

SECURITY HAT TRICK

It was a big month for MoonPay’s Security team, which had three major wins: 

• Earned ISO 27018 certification: ISO 27018 is a leading global standard for cloud privacy protection.

• Completed first ISO 27001 surveillance audit: This was a continuation of the ISO 27001 review completed in November 2023.

• Won cyber security award: Our CISO Doug Innocenti was recognized by Cyber Defense Magazine as one of the year’s Top Global CISOs!

Security is essential to our business. These achievements reflect MoonPay's unwavering dedication to advancing security standards within our industry, and they enable us to build even greater trust with our customers and partners. 

SPEAKING OF PARTNERS…

MoonPay was included in the third annual Power Partner Awards issued by Inc., the leading media brand for entrepreneurs and business leaders. 

We’re the only crypto fintech recognized on the entire list of 359 companies!

The achievement is a huge testament to the leadership of Keith A. Grossman and Ivan Soto-Wright, and reflects the work of everyone at MoonPay.

Inc.'s. award-winning work has a monthly audience of 40M+. Its proprietary “Inc. 5000” list (which has been published every year since its launch as the “Inc. 100” in 1982) ranks the fastest-growing privately-held businesses in the U.S. 

If you're looking to partner with MoonPay and integrate our technology, we're ready for you.

RIPPLE EFFECT

On October 15th, we announced our partnership with Ripple to help bring their new stablecoin to our global community.

Ripple USD (RLUSD) is 100% backed by dollar deposits, government bonds, and cash equivalents. Customers will soon be able to buy RLUSD on MoonPay using most major payment methods.

The MoonPay team also shipped new app updates to support the XRP Army, and our CEO Ivan Soto-Wright spoke at Ripple Swell about the rising importance of stablecoin adoption.

At the time of writing, the global stablecoin market cap is $172.22B.

KNOW 👏 YOUR 👏 CUSTOMER 👏

In a recent article, MoonPay’s VP of Product, Platform & Growth, nj skoberne, argues that it’s impossible for a crypto company to scale without a deep understanding of their customers: 

We love to label things in crypto - this is a bridge, that’s a rollup - but it never ceases to amaze me how few crypto companies apply this habit of categorization to their user base. In any industry, segmentation is important because it allows businesses to determine how best to engage with different customers. But in crypto, segmentation is especially important because customers come to the space with a wide variety of needs. 

Click here to read the full article

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NEW PARTNERSHIPS

In addition to our flagship Venmo partnership, we're also proud of these new and expanded relationships from October 2024!

• Valora users can now buy Celo-native USDT and USDC via MoonPay. Valora is a mobile crypto app originally built on Celo, an emerging Ethereum Layer-2 and mobile-first blockchain network designed for fast, low-cost payments worldwide. Learn more here 

• Illuvium players can buy ETH and USDC via MoonPay. Illuvium is a blockchain games franchise on Ethereum. Learn more here 

• Slingshot users can now buy crypto exclusively through MoonPay. Slingshot released its latest app this autumn, which includes a new user-interface providing a “truly Web2 experience”. The app allows users to buy and sell 250K+ tokens across seven blockchains using a consolidated USDC balance. Learn more here

• Bitrefill users can now buy crypto through MoonPay. For over a decade Bitrefill has  made it easy for people to buy vouchers, mobile phone top-ups, and other products using cryptocurrency.  MoonPay’s CEO, Ivan Soto-Wright, said the partnership showcases “the very practical benefits crypto can have in our day-to-day transactions.” Learn more here

• World Chain users can now use MoonPay (via ramps aggregator Onramper) to buy and sell the Worldcoin token. Co-founders of World Network Alex Blania and Sam Altman announced the launch of World Chain on October 17th. Learn more here

• Our partnership with Bitkey continues. Bikey users can now use MoonPay to sell Bitcoin in more than 80 supported countries. The integration supports local bank transfers, credit and debit cards, and Push-to-Card sell transactions. Learn more here 

• Our partnership with Sweet continues. MoonPay is powering payments for the sports collectibles platform’s new Major League Soccer collection. Learn more here

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