Crypto wallet and DApp provider MetaMask has introduced the ability to purchase Ether (ETH) using PayPal for users in the United States. This move marks a significant development for MetaMask, which claims to be the first Web3 wallet to offer Ether transactions via PayPal.
The collaboration between MetaMask and PayPal, initially announced in 2022, has now come to fruition, allowing American users to select PayPal as their preferred payment method when buying ETH through MetaMask. Furthermore, the integration facilitates the transfer of ETH from PayPal to MetaMask.
Last December, MetaMask’s parent company ConsenSys joined forces with the financial technology firm to enhance the seamless purchase of crypto assets and exploration of the Web3 ecosystem. The recent integration with PayPal further expands MetaMask’s ecosystem of payment providers, which already includes Coinbase Pay, MoonPay, Sardine, Transak, and Wyre.
In its quarterly report to the U.S. Securities and Exchange Commission, PayPal disclosed a significant increase in crypto assets, amounting to $943 million as of March 31, 2023, representing a 56% surge from the previous quarter’s $604 million.
This latest integration follows closely on the heels of MetaMask’s introduction of the “Buy Crypto” feature, enabling users to purchase cryptocurrencies directly with fiat currency through the Portfolio DApp. The feature covers over 189 countries and supports more than 90 cryptocurrencies across eight networks. It takes into account the user’s location and local regulations to provide a personalized quote.
MetaMask’s pursuit of integrations and partnerships continues to expand its global accessibility and offer convenient on-ramps for customers. Recently, MetaMask partnered with crypto fintech firm MoonPay to provide Nigerian users with the ability to purchase crypto via instant bank transfers. This development is particularly significant as Nigeria is among the top 20 countries in terms of cryptocurrency adoption, according to the Chainalysis 2022 Global Crypto Adoption Index.
With MetaMask’s latest collaboration with PayPal, the seamless integration of payment methods and expanded accessibility to crypto assets will likely further accelerate the adoption of cryptocurrencies, particularly Ether, in the United States. The partnership paves the way for MetaMask to continue its mission of providing user-friendly and secure decentralized financial solutions to its ever-growing user base.