MetaMask and PayPal Partners to Offer Users Easier Way To Buy Crypto

PayPal will integrate its buy, sell, and hold crypto services with MetaMask Wallet in order to expand consumers’ options for transferring digital assets from their platforms, the firms announced on Wednesday.

According to a press statement, the collaboration between the payments company and MetaMask developer ConsenSys is meant to let users utilize their PayPal accounts to purchase ether (ETH) from within the MetaMask software. The service is intended to make it easier to buy and transfer ether from PayPal to MetaMask.

The service is intended by MetaMask to assist bring more users into the Web3 ecosystem at a time when the sector is seeking a way out of the crypto winter.

“This connectivity with PayPal will allow our US consumers to not only buy cryptocurrency seamlessly through MetaMask, but also quickly explore the Web3 ecosystem,” ConsenSys product manager Lorenzo Santos stated in a press release.

Select US clients can begin using the new service immediately, while the remainder of PayPal’s US customers will be able to use it in the coming weeks.

The rollout follows PayPal’s June drive to permit crypto transfers across its own platform and several popular crypto exchanges. In October 2020, the fintech startup launched its cryptocurrency purchase, sell, and hold service.