Source: news.google.com
Users of the popular MetaMask Web3 wallet will soon be able to buy the second most popular cryptocurrency, Ether, through PayPal.
Similar to PayPal’s checkout feature on online stores like Etsy and eBay, the integration with ConsenSys’ MetaMask will allow users to purchase and transfer Ether by logging into MetaMask, tapping the “buy” button, and logging into PayPal before making A purchase.
The company said in a statement that select US-based customers of MetaMask will be able to use PayPal to purchase Ether starting Wednesday, with the feature rolling out to all US users in the coming weeks.
A crypto wallet like MetaMask is often the starting point for interacting with Web3 applications like play-to-win games and some metaverse platforms. Adding PayPal to MetaMask could broaden the customer base for some of these apps by removing the complexity of buying crypto.
“This integration with PayPal will allow our US users to not only seamlessly purchase crypto through MetaMask, but also to easily explore the Web3 ecosystem,” MetaMask product manager Lorenzo Santos said in the statement.
PayPal has embraced cryptocurrency in a number of ways in recent years. It first gave customers the ability to buy, hold, and sell cryptocurrencies on its platform in 2020, and in 2021 added a “pay with crypto” feature that supported Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.
Having mostly isolated crypto funds from customers within the PayPal ecosystem since 2020, the company in June also allowed its customers to transfer any crypto purchased on PayPal to other wallets or exchanges.
Last week, PayPal competitor Stripe released its own tool to help Web3 businesses, including gaming and NFT marketplaces, allow their customers to buy cryptocurrency with fiat currencies like the US dollar. The payments company, which has partnerships with Apple and Walmart, said it will also handle fraud, compliance and know-your-customer (KYC) checks.
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