• MetaMask and PayPal have announced a partnership that will allow US-based MetaMask users to purchase ETH via PayPal.
• The integration will also allow users to transfer ETH from PayPal to MetaMask, promoting the self-custody of crypto assets.
• This partnership joins a vast ecosystem of payment providers that have already integrated with MetaMask, such as MoonPay, Coinbase Pay, Transak, Wyre, Sardine, and more.
MetaMask Announces Partnership With PayPal
MetaMask, a decentralized application (dApp) provider and crypto wallet has announced a partnership with payment service provider PayPal. The collaboration allows US-based MetaMask users to purchase ETH through PayPal directly in their wallets.
Purchase ETH Through PayPal
The integration enables users to use PayPal as their preferred payment method when purchasing ETH. Furthermore, it supports the transfer of ETH from PayPal to MetaMask. This is a significant step forward in promoting the self-custody of crypto assets.
Joining A Vast Ecosystem
PayPal’s partnership with MetaMask has seen it join a vast ecosystem of other payment providers that have already integrated with the platform such as MoonPay, Coinbase Pay, Transak, Wyre, Sardine and more. According to reports filed by the United States Securities and Exchange Commission (SEC), at the end of March 2023, PayPal held around $943 million worth of crypto assets – an increase from its previous quarter figures which stood at $604 million.
Buy Crypto Feature Launched
Recently MetaMask launched a new feature allowing users to buy cryptocurrencies directly from its Portfolio dApp using fiat currency called “Buy Crypto” which covers over 189 countries and supports over 90 different cryptocurrencies spread across eight networks including Ethereum ,Arbitrum ,BNB Smart Chain ,Polygon ,Fantom ,Optimis ,Celo ,and Avalanche .
Conclusion
The news of the collaboration between Paypal and Metamask comes shortly after Metamask’s launch of its „Buy Crypto“ feature which allows users from over 189 countries access cryptocurrency through various payment methods like credit card or bank transfers .This integration is another milestone for Metamask which will help promote self custody adoption for digital assets on its platform .