Digital payments platform PayPal partnered with MetaMask’s parent company, ConsenSys, to enable MetaMask users to buy and transfer $1,309 worth of Ether-ETH tickers through the platform.
As per the December 14 announcement, the service will initially only be rolled out to select PayPal users in the United States, as the country is one of MetaMask’s largest markets in terms of users.
Our US users will now be able to fund their wallet with ETH via @PayPal! 🦊
Rolling out in the next weeks in the US, excl. Hawaii, through our mobile app (make sure to update to v5.13.0)🧵👇https://t.co/392JwFYF3m
— MetaMask 🦊💙 (@MetaMask) December 14, 2022
The collaboration aims to allow users to seamlessly buy and transfer ETH from PayPal to MetaMask simply by logging into their MetaMask mobile app, which will then redirect them to their PayPal account to complete transactions. Lorenzo Santos, Product Manager at MetaMask, shared, “This integration with PayPal will enable our US users to not only seamlessly buy cryptocurrency through MetaMask, but also easily explore the Web3 ecosystem.”
PayPal is among a growing number of traditional payment companies looking to integrate cryptocurrency into their services and allow users to interact easily with the cryptocurrency ecosystem. In November, MoneyGram, a global peer-to-peer digital payments company, announced that U.users, including those in Washington, DC, can buy, sell and hold cryptocurrencies, specifically Bitcoin BTCtickers down $17,774, Ether and Litecoin LTCticker down $75.61: via its MoneyGram mobile application. In October, Western Union also filed three brands for digital wallet management, digital asset exchanges, and commodity derivatives, indicating that the payments company likely plans to expand its services into the Web3 sphere. Mobile payment processing app Cash App has also added support for transactions over the Bitcoin Lightning Network, allowing users to send and receive BTC over the faster and more efficient Layer 2 protocol.
