MetaMask allows users to purchase and transfer ETH using PayPal.
The service will initially be accessible to a limited number of PayPal users in the United States.
And PayPal Holdings Inc. announced a partnership to provide users with more alternatives for transferring digital assets between platforms.
The collaboration enables users to utilize PayPal as a payment option when purchasing Ethereum or ETH/USD within the MetaMask software wallet. As per the press release, the offering will make it simple to purchase and send Ethereum to MetaMask via PayPal.
MetaMask believes that the offering will help the company to get more users into the Web3 ecosystem. The Metamask parent company’s product manager Lorenzo Santos said,
“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.”
Furthermore, Santos also confirmed that MetaMask's 1% service fee, along with any applicable PayPal fees, will apply to all transactions.
Meanwhile, it's not surprising that MetaMask prioritizes ETH purchases with PayPal integration because the firm is run by Joe Lubin, the co-founder of Ethereum.
As per the press release, the offerings will initially be available to a limited number of US users, with the company working to expand the offering to the rest of its US users in the coming weeks.
PayPal's collaboration with Metamask is their most recent endeavor in the cryptocurrency sector. Recently, the platform enables the buy, sell, and hold services for the users of Luxembourg, marking its first foray into the European Union (EU).
On the other hand, MetaMask recently teamed up with Cobo and Gnosis DAO to create an SBT project known as “Evolution.” The project will assist users in defining themselves in virtual reality and staying up to date on industry trends.
This indicates that both companies are diving deep into the cryptocurrency industry and undertaking a number of initiatives to attract users to the crypto industry.
What are your thoughts on PayPal's integration into the MetaMask wallet? Share your thoughts in the comment section below.
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