US customers will have a chance to not only use PayPal for ETH purchases but also facilitate transfers from PayPal to MetaMask.
MetaMask, the crypto wallet and decentralized application (DApp) platform, is now offering its American users the ability to purchase Ether (ETH) via PayPal.
With this move, MetaMask became the first Web3 wallet to pave the way for ETH transactions via PayPal.
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This collaboration enables users in the United States to use PayPal when purchasing ETH via MetaMask. Moreover, American users will be able to facilitate ETH transfers from PayPal to MetaMask.
In December last year, MetaMask's parent company, ConsenSys, joined forces with PayPal to make crypto purchases more fluid and to provide a user-friendly gateway to the Web3 ecosystem.
PayPal is now part of an extensive network of payment providers integrated with MetaMask. This network boasts names like Coinbase Pay, MoonPay, Sardine, Transak, and Wyre.
According to a quarterly report filed with the U.S. Securities and Exchange Commission, as of March 31st, 2023, PayPal boasted crypto assets amounting to $943 million, representing a remarkable 36% surge from the previous quarter's $604 million.
The PayPal integration follows on the heels of MetaMask announcing a feature that lets users buy crypto with fiat currency straight from its Portfolio dApp, known as "Buy Crypto." This functionality allows users to purchase cryptocurrencies using various payment methods, such as debit or credit cards and bank transfers.
The service spans over 189 countries and supports over 90 cryptocurrencies on eight networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche, Fantom, Optimis, and Celo. Each purchase considers the user's location and local regulations, offering a tailored quote.
MetaMask, a leader in the dApp sphere, is now providing its American users the option to buy Ether through PayPal, marking a significant expansion in its payment methods.
