Crypto payments firm MoonPay has introduced a new feature called MoonTags, aimed at simplifying the process of “peer-to-peer” cryptocurrency transfers.
The new feature allows users to transfer crypto as easily as “sending a text message”, using a “single”, “personalised” identifier similar to a social media handle.
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With MoonTags, the need for copying lengthy wallet addresses or selecting a blockchain is eliminated, the company said in a statement.
MoonPay CEO and co-founder Ivan Soto-Wright said: “Transferring crypto shouldn’t feel like a technical process. MoonTags take the guesswork out of sending and receiving funds, making crypto movement feel as natural and intuitive as any modern payments experience.”
Upon registration, each MoonPay user is provided with a “customised” default MoonTag.
To send or request crypto, users need to search for a MoonTag, enter the desired amount, and may add a message before completing the transaction instantly.
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By GlobalDataMoonPay services include the ability to buy, sell, and trade cryptocurrencies using common payment methods.
The company boasts nearly 30 million customers and supports the infrastructure of close to 500 companies within the decentralised economy.
MoonPay operates with full licensing in the US and is regulated across several markets, including the UK, EU, Canada, and Australia.
In June, MoonPay received BitLicense and money transmitter licences from the NYDFS, expanding its services to New York residents.
The authorisation allows New Yorkers to utilise MoonPay’s fiat-to-crypto services, including the purchase and sale of cryptocurrencies and the MoonPay Balance feature.
