- May 14, 2023
- Posted by: [email protected]
- Category:
MetaMask, a decentralized application provider and cryptocurrency wallet, has begun allowing Ethereum purchases via PayPal to its US users. This collaboration was announced in 2022, and American users can now purchase Ethereum using PayPal as a payment option. Furthermore, they can send ETH from PayPal to MetaMask. MetaMask promises to be the first Web3 wallet to accept Ethereum payments using PayPal.
PayPal has joined the list of payment providers that have been integrated with MetaMask, which already includes Coinbase Pay, MoonPay, Sardine, Transak, and Wyre. PayPal partnered with MetaMask’s parent company, ConsenSys, in December to make purchasing bitcoin easier for users and to allow them to easily explore the Web3 ecosystem.
MetaMask is expanding its reach and partnerships to offer on-ramps for its customers. It recently announced a new feature called “Buy Crypto” that enables users to purchase a range of cryptocurrencies, including ETH, using various payment options such as debit or credit cards and bank transfers. The feature considers the user’s location and local regulations to provide a customized quote for each purchase. It supports more than 90 cryptocurrencies across eight networks and covers over 189 countries.
MetaMask has also partnered with crypto fintech MoonPay to expand direct access to cryptocurrencies in Nigeria, one of the top 20 countries in cryptocurrency adoption by Chainalysis 2022 Global Crypto Adoption Index. MetaMask allows users in Nigeria to buy cryptocurrency with quick bank transfers.
In a quarterly report filed with the US Securities and Exchange Commission, PayPal disclosed a total of $943 million in crypto assets as of March 31, 2023, a 56% increase from the previous quarter’s $604 million in crypto assets.
MetaMask’s integration with PayPal and other payment providers is part of its efforts to expand its reach and make cryptocurrency more accessible to users around the world. MetaMask is ready to continue leading the Web3 ecosystem with new features and partnerships.
