Crypto wallet MetaMask has started to implement Ether (ETH) purchases through PayPal for users in the United States, one of the largest markets for Metamask. The company claims to be the first Web3 wallet to offer ETH transactions through PayPal.
Through the collaboration, US users can now choose PayPal as a payment method when buying ETH with MetaMask. The integration also makes it possible to transfer ETH from PayPal to MetaMask.
fintech firm partnered with the parent of MetaMask, ConsenSys last December, stating that 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!
start herehttps://t.co/RGcamJQoQ2
โ MetaMask (@MetaMask) May 11, 2023
PayPal joins a broad ecosystem of payment providers already integrated with MetaMask, including Coinbase Pay, MoonPay, Sardine, Transak, and Wyre, among others. In a quarterly report filed with the US Securities and Exchange Commission, the company revealed a total of USD 943 million in crypto assets as of March 31, 2023, an increase of 56% from the previous quarter, when the company reported $604 million in crypto assets.
The new integration came just weeks after MetaMask announced a new feature for users to buy cryptocurrencies with fiat currency directly from your Portfolio Dapp. Known as "Buy Crypto," the new functionality allows users to purchase a variety of cryptocurrencies using various payment methods, including debit or credit cards and bank transfers.
The service will cover more than 189 countries, supporting more than 90 cryptocurrencies across eight networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimis, and Celo. For each purchase, the feature considers the user's location and local regulations to provide a personalized quote.
MetaMask has been driving integrations and partnerships to expand its reach and offer on-ramps for its customers. One of its recent developments sought to expand direct access to cryptocurrencies in Nigeria. By partnering with crypto fintech MoonPay, the wallet now allows users in the African country to buy cryptocurrencies through instant bank transfers. Nigeria is among the top 20 countries for cryptocurrency adoption, according to the Chainalysis 2022 Global Cryptocurrency Adoption Index.
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