MoonPay’s investing arm, MoonPay Ventures, has invested in Zengo to support the wallet’s continued global expansion.
MoonPay, provider of crypto payment infrastructure for cryptocurrencies, has partnered with Zengo Wallet, a self-custodial crypto wallet. Announced on November 20, the integration will focus on enhancing the wallet’s usability while increasing access to different modes of payment and accelerating product development within Zengo.
MoonPay will now act as the exclusive payments provider for Zengo’s crypto buy and sell features. This collaboration aims to allow Zengo users to fund their wallets using a wide variety of standard payment methods. These include credit cards, bank transfers, and popular digital wallets such as Apple Pay, Google Pay, PayPal, and Venmo. Additionally, individuals who subscribe to Zengo Pro will receive multiple advantages, including reduced transaction fees, advanced tools, and detailed market insights.
Zengo, used by millions worldwide, is recognized for its unique security model, based on multi-party computation (MPC) for keyless recovery. The wallet’s reputation is based on the combination of high-level protection, a straightforward, intuitive user experience, and widespread asset support. MoonPay, as an established provider of global payments infrastructure for digital assets, has worked with Zengo to streamline the process of acquiring and selling crypto.
Zengo’s security approach to self-custody will be integrated with MoonPay’s payments system. According to a press release, this collaboration aims to simplify digital asset ownership and make it safer and more widely available to users across the globe by removing common barriers to secure crypto ownership. Further solidifying this alignment, MoonPay Ventures, the investing division of MoonPay, has invested in Zengo.
The companies said the investment will help Zengo’s international expansion and the launch of future products. This investment underlines a shared vision: that the future of self-custody needs to be both secure and user-friendly.
The alliance between MoonPay and Zengo marks a shared commitment toward building a world-class, self-custodial solution. Each company is uniquely positioned to enhance the overall experience that users will have with Web3 and DeFi by integrating efficient payment access and security technology.
