• MetaMask has announced a partnership with payment service provider PayPal, allowing users in the US to purchase ETH via PayPal and hold ETH directly in their wallets.
• The integration of MetaMask and PayPal will also allow users to transfer ETH from PayPal to MetaMask.
• The addition of PayPal means that it joins a vast ecosystem of payment providers already integrated with MetaMask, such as MoonPay, Coinbase Pay, Transak, Wyre, Sardine and more.
MetaMask Partners With PayPal
MetaMask has announced a partnership with payment service provider PayPal. This collaboration will allow MetaMask users based in the United States to use PayPal as their preferred payment method when purchasing ETH. Additionally, it supports the transfer of ETH from PayPal to MetaMask, aiding in more self-custody adoption.
Purchase ETH Through PayPal
The integration between MetaMask and Paypal allows users in the US to purchase Ethereum (ETH) through Paypal directly. This makes it the first Web 3.0 wallet to offer such transaction options via this popular form of digital payment services.
Joining A Vast Ecosystem
PayPal is joining a growing list of payment providers already integrated with MetaMask, including MoonPay, Coinbase Pay, Transak, Wyre, Sardine and more. According to reports filed with the Securities & Exchange Commission (SEC), as of March 2023, it held around $943 million worth of crypto assets – representing an increase of 56% from the previous quarter when it reported crypto assets worth $604 million .
New Feature Launched
Earlier this month saw the launch of a new feature by MetaMask called “Buy Crypto” which allows users to purchase various cryptocurrencies using credit/debit cards or bank transfers across 189 countries covering 90 different cryptos spread over 8 networks such as Arbitrum , BNB Smart Chain , Polygon , Ethereum , Fantom , Optimis , Celo & Avalanche .
Conclusion
The partnership between MetaMaks and payPal is set to revolutionise how digital assets are bought & sold on web3 platforms while promoting self custody & usage of digital assets on these platforms