MetaMask users can now buy and send Ethereum via the digital payment service PayPal thanks to a partnership between PayPal and the parent firm of MetaMask, ConsenSys. American PayPal users are now able to use their PayPal accounts to easily purchase Ether from the MetaMask software.
The service will initially only be available to a limited number of American PayPal users, given the US is one of MetaMask's main user markets, according to the announcement made on December 14.
According to the press, users will be able to use their PayPal accounts as a payment method to buy Ethereum (ETH) from the MetaMask software thanks to a cooperation between the payments company and MetaMask creator ConsenSys. The product is made to make it simple to buy ether and send it through PayPal to MetaMask.
Product manager for MetaMask, Lorenzo Santos said in an statement:
“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.”
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PayPal is one of a growing number of traditional payment providers incorporating cryptocurrency into their services and aiming to make it simple for customers to engage with the crypto ecosystem.
In late 2020, PayPal started allowing users to store, sell, and buy cryptocurrencies. Then, in March 2021, the business introduced Checkout with Crypto, a tool that let clients pay with crypto assets at millions of online retailers during the checkout process.
Not only PayPal but also its major competitors like Stripe, have launched their own platform to assist Web3 businesses, such as games and NFT marketplaces, enabling their users to purchase cryptocurrency using fiat currencies like the US dollar. In addition to handling fraud, compliance, and know-your-customer (KYC) checks, the payments business, which has alliances with Apple and Walmart, said it will also do so.