ConsensusDeveloper of popular crypto wallet metamaskannounced a partnership with paypal In a new leap forward for crypto adoption.
Ethereum (ETH) software firm Told on Wednesday that mobile Metamask users in the US will be able to buy ETH from within the Metamask app using the payments giant — meaning, they can buy and transfer this crypto from PayPal to Metamask.
This option is quite limited for now, the company says that,
“This new functionality is available starting today for select US users and is rolling out to all eligible US customers in the coming weeks.”
Using PayPal within MetaMask is straightforward as it enables users to select their PayPal accounts as a payment option within the Wallet app.
Users need to log into the mobile MetaMask app, click the Buy button, select ‘PayPal’, and enter the USD amount of ETH to add to the wallet, at which point they will be prompted to log in to PayPal. will be redirected. They can then choose to complete the transaction if they have enough ETH to send, or buy more via PayPal.
The press release states that it will be “the first Web3 wallet to leverage PayPal to drive more successful on-ramp transactions.”
Additionally, MetaMask product manager Lorenzo Santos was quoted as saying that the integration with PayPal would allow select users to “not only buy crypto natively through MetaMask, but also the ease of the Web3 ecosystem.” It will also help to find out.
This is a major step, considering that MetaMask is one of the most popular self-custodial wallets, and it enables its users to explore and interact with not only cryptocurrencies, but also decentralized finance (DeFi) Application (dapps), decentralized autonomous organization (daoplay and earn Playnon-fungible token (nft), and growing rapidly metaverse,
not a first for paypal
This is just the latest in a string of PayPal integrations and expansions this year.
paypal in june announced It enabled the option for its customers in the US to transfer cryptocurrencies from their accounts to external wallets and exchanges. Jose Fernandez da Ponte, SVP and General Manager of Blockchain, Crypto and Digital Currencies at PayPal, said, “This feature has been consistently cited as one of the most requested enhancements by users since we began offering the purchase of crypto on our platform. ranked in.” those days.
In October, the crypto exchange bitstamp Integrated PayPal “for millions of people to buy, sell and trade crypto through a secure, regulated platform.” And just this month, PayPal Told It will expand its crypto service to Luxembourg, and eligible customers will be able to buy, sell and hold bitcoin (btc), Ethereum, Litecoin (LTC)And Bitcoin Cash (BCH) to their PayPal accounts through the website or mobile app. bitstamp
PayPal first offered users the ability to buy, sell, and hold crypto in late 2020. Then, in March 2021, the company launched Its Checkout with Crypto, a feature that allowed customers to pay with cryptoassets during checkout at millions of online businesses.
Furthermore, PayPal is not the only traditional payment company to integrate crypto into its services, thus allowing its users to explore and interact with the industry. For example, in November, global payments company money gram announced That US users can use its platform to buy, sell and hold bitcoin, ethereum and litecoin.
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learn more:
, PayPal US users can now spend more on bitcoin in a week than they could in a year
, PayPal UK Also Steps Into Bitcoin and Crypto Waters
, Merchant crypto payments: clever marketing or a sign of real adoption?
, MoneyGram Supports Transfers Through Stablecoins, CEO Says Crypto Is ‘Apparently Here To Stay’
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