Digital payments platform PayPal and ConsenSys, the parent company of MetaMask, have partnered to enable MetaMask users to purchase and transfer Ether using PayPal’s platform.
According to the Dec. 14 statement, the service will first be pushed out solely to select PayPal users in the U.S., as the country is among MetaMask’s leading markets in terms of users.
Users can now buy and transfer ETH from PayPal to MetaMask by login into the Mobile MetaMask App, which then redirects them to their PayPal account to finish transactions.
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
Lorenzo Santos, product manager for MetaMask, shared that this partnership with PayPal will allow U.S. users to buy crypto securely through MetaMask and explore the Web3 ecosystem quickly.
PayPal is among the rising number of traditional payment providers integrating cryptocurrency into their services to facilitate customer interaction with the crypto ecosystem.
In November, MoneyGram, a worldwide digital peer-to-peer payments provider, announced that U.S. consumers, including those in Washington, DC, may purchase, trade, and store Bitcoin, Ether, and Litecoin using the MoneyGram mobile app.
In October, Western Union also filed three trademarks for managing digital wallets and transferring digital assets, as well as commodities derivatives, which shows the payments business likely aims to expand its services into the Web3 area.
Cash Software, a mobile payment processing app, has introduced support for Bitcoin Lightning Network transactions, allowing users to send and receive BTC via the quicker, more efficient layer-2 protocol.