Crypto wallet and decentralized application (DApp) provider MetaMask has begun rolling out Ether purchases via PayPal to users in the United States, one of MetaMask’s largest markets. The company claims to be the first Web3 wallet to offer Ether (ETH) transactions through PayPal.
Thanks to the collaboration, US users can now choose PayPal as their payment method when purchasing ETH using MetaMask. The integration also allows you to transfer ETH from PayPal to MetaMask.
The financial technology firm teamed up with MetaMask’s parent company ConsenSys in December last year, saying the partnership would allow users to seamlessly purchase cryptocurrency and easily explore the Web3 ecosystem.
“MetaMask is the first web3 wallet that allows users to buy ETH using PayPal!” – MetaMask said in a post on May 11, 2023.
PayPal joins a wide ecosystem of payment providers already integrated with MetaMask, including Coinbase Pay, MoonPay, Sardine, Transak, Wyre and others. In a quarterly report filed with the U.S. Securities and Exchange Commission, the company disclosed a total of $943 million in crypto assets as of March 31, 2023, up 56% from the previous quarter when the company reported $604 million in crypto assets dollars.
The new integration comes just weeks after MetaMask announced a new feature allowing users to buy cryptocurrency with fiat currency directly from their DApp portfolio. The new feature, known as Buy Crypto, allows users to purchase a range of cryptocurrencies using a variety of payment methods, including debit or credit cards and bank transfers.
The service will cover more than 189 countries and support more than 90 cryptocurrencies on eight networks, including Ethereum, Polygon, Arbitrum, Avalanche, Fantom, Optimism and Celo. For each purchase, the feature takes into account the user’s location and local regulations to provide a personalized offer.
MetaMask is committed to integrations and partnerships to expand its reach and offer additional capabilities to its customers. Thanks to a partnership with cryptocurrency fintech firm MoonPay, the wallet now allows users in the African country to buy cryptocurrency using instant bank transfers.