Key Highlights:
- Users will be able to use PayPal as a payment option when purchasing Ethereum inside the MetaMask software, according to the PR.
- The action aims to draw more people into the Web3 ecosystem.
Users of MetaMask may now buy and send Ether using the digital payment service PayPal thanks to a partnership between PayPal and the parent firm of MetaMask, ConsenSys.
The service will initially only be available to a limited number of American PayPal users, given the U.S. is one of MetaMask’s main user markets, according to the announcement made on December 14.
By just entering into their mobile MetaMask app, customers will be able to buy and transfer ETH from PayPal to MetaMask without any issues. They will then be redirected to their PayPal account to finish their transactions.
Customer exposure to Web3 would be a benefit of this advancement, according to Lorenzo Santos, product manager at MetaMask. “This integration with PayPal will allow our U.S. users to not just buy Crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem,” Santos noted.
PayPal and its love for Crypto
Checking the last few years, PayPal has embraced Crypto in a number of ways. A “checkout with Crypto” function that supported Bitcoin, Litecoin, Ethereum, and Bitcoin Cash was added in 2021 after it first enabled consumers to buy, hold, and trade Cryptos on its platform in 2020.
Since 2020, PayPal has largely kept customer Crypto holdings isolated within its ecosystem. However, starting in June, users were able to move any Crypto they had purchased through PayPal to other wallets or exchanges.
