PayPal Partners with Crypto Wallet MetaMask for Ethereum Transactions

Share This Post

Two of the industry’s biggest names are partnering to make purchasing cryptocurrencies even easier. PayPal is collaborating with the cryptocurrency wallet MetaMask to develop a new and more efficient cryptocurrency purchasing experience.

Quick Take:

  • The company announced that select U.S. MetaMask customers can buy Ether with PayPal.
  • ConsenSys’s MetaMask will let users buy and transfer Ether by logging in to MetaMask.
  • PayPal and MetaMask’s partnership makes buying cryptocurrencies easier.

According to the announcement, the two entities are looking into different options for users to transfer their digital assets.

PayPal X Metamask: Users Can Now buy Crypto

The partnership between PayPal and MetaMask is excellent news for users seeking a simpler way to buy cryptocurrencies. The partnership was formed with the goal of facilitating an easier and more mainstream entry into the industry for PayPal users.

According to the press release, MetaMask developer ConsenSys plans to allow users to choose PayPal as a payment option when purchasing Ethereum through the MetaMask platform. Furthermore, this advancement incorporates a seamless transfer of digital assets between the two platforms.

Related Content: Ledger Launches Stax, a New Hardware Wallet for NFTs: What You Need to Know

The development incorporates features similar to those found on popular platforms such as Etsy and eBay. Addtionally, this replicates the checkout feature that allows customers to use their PayPal account to make purchases. Similarly, when purchasing cryptocurrency through MetaMask, the same rules will now apply.

This integration with PayPal will allow our U.S. users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem

Lorenzo Santos, MetaMask product manager

The development represents yet another moment of acceptance for PayPal and cryptocurrency. The collaboration continues the integration of digital assets, which has been a focus of the financial firm since 2020.

Paypal and Its Crypto Journey

Over the last few years, PayPal has embraced cryptocurrency in a variety of ways. In 2020, it allowed customers to buy, hold, and sell cryptocurrency on its platform for the first time. Next, in 2021, it added a “checkout with crypto” feature that supported Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.

After largely isolating customer crypto funds within the PayPal ecosystem, the company began allowing customers to transfer any cryptocurrency purchased through PayPal to other wallets or exchanges.

PayPal rival Stripe launched its own tool last week to assist Web3 companies, such as games and NFT marketplaces, in allowing their customers to buy crypto with fiat currencies such as the US dollar. The payments company, which works with Apple and Walmart, also stated that it will handle fraud, compliance, and know-your-customer (KYC) checks.

Subscribe to the NFT Lately newsletter to receive news covering the latest NFT-related drops, releases, reviews, and more.


Related Posts

Magic Eden Adopts Solana’s Compressed NFTs

Magin Eden, the distinguished NFT marketplace, recently announced its... Returns With Surging NFT Trading Volumes, the decentralized social media app, has shown an...

CoinMarketCap and HELLO Labs to Premiere TV Series, Killer Whales

An official trailer for the Web3 television series 'Killer...

Machi Proposes 11M $APE Sends NFTs to Museums Worldwide

An intriguing week-long vote surrounding OG NFTs kick-started today! Machi Big Brother,...

Italian Luxury Watch Brand Panerai Introduces Digital Passports Generated with NFT

Italian luxury watch manufacturer Panerai has revealed plans to include an...

Related Posts

Otherside Announces the Beta Launch of Legends of Mara 

Yuga Labs recently announced that they will launch a...

Adidas Just Unveiled Its First Digital Artist Program, RESIDENCY

Making strides in the art and technology sectors, Adidas...

Grab, Southeast Asia’s Uber, Integrates NFTs into Business Model

Grab, an Uber-like riding giant in Southeast Asia, steps...

Soccer Star Ronaldinho Faces $61M Legal Battle over Crypto Scam

Ronaldinho Gaúcho is playing a risky game off the...

The History of Bitcoin NFTs – A Step-by-Step Timeline

With recent hype surrounding Casey Rodarmor's release of open-source...