Hardware walletcompany Trezor will be allowing direct cryptocurrency purchases through a new collaboration with the cryptocurrency financial technology (fintech) startup MoonPay, as reported by Cointelegraph.
According to Cointelegraph, Trezor, a Czech Republic-based hardware wallet provider, has entered into a partnership with MoonPay to allow customers purchase cryptocurrency directly in their hardware wallet, as per a recent announcement. Backed by industry investors including Tiger Global and Coatue, MoonPay is a cryptocurrency payment service to permit customers buy and sell cryptocurrencies and non-fungible tokens (NFTs) through usage of debit cards, credit cards and other payment technqiues. In April, 2022, the firm clocked $87 million from investors such as Justin Bieber and Snoop Dogg, to focus on NFTs and Web3.0.
On the basis of information by Cointelegraph, the collaboration with MoonPay builds on Trezor’s earlier partnership with Invity, a cryptocurrency exchange comparison tool integrated directly into the wallet. Invity, which is a startup functioning under the parent company SatoshiLabs, connects clients with trusted partner exchanges to provide direct-to-custody trades through different payment methods. Combined, the three platforms provide buy, sell and exchange features directly in the Trezor wallet. This new development allows customers to buy and sell a range of cryptocurrencies through a noncustodial cryptocurrency wallet.
Moreover, Cointelegraph noted that the latest update is anticipated to be important for cryptocurrency purchases on Trezor, as the hardware wallet has been previously supporting cryptocurrency buys on its native application Trezor Suite through an in-app trade feature. The option has been present through the cryptocurrency exchange comparison tool created by Invity since at least late 2020, Trezor stated through a blog post.
“By allowing Trezor owners to buy crypto directly from their wallet, we’re tapping into a cohort of cryptocurrency users who take security seriously. Through this partnership with MoonPay, we’re taking the lead to bring secure, borderless and easy financial freedom to billions,” Antonio Talledo, senior business development manager, MoonPay, said.
(With insights from Cointelegraph)