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MoonPay invested in the self-custody wallet Zengo and will also help it with payments.
[Coin World] MoonPay Ventures just announced an investment in the hosted wallet Zengo.
This time it's not just as simple as investing money—MoonPay will also directly provide fiat deposit and withdrawal services to Zengo, making it more convenient for users to buy and sell cryptocurrencies in their wallets. The two companies say they will work on product usability, after all, self-custody wallets still have a high threshold for beginners.
More importantly, the payment channel will expand, and the entire product ecosystem of Zengo will grow along with it. It looks like a quite practical strategic cooperation, not the kind that just invests money without taking action.