The service will first be available to a limited number of PayPal customers in the United States. PayPal has partnered with MetaMask parent firm ConsenSys to enable MetaMask users to acquire and transfer Ethereum using PayPal’s platform.
According to the Dec. 14 statement, the service would first be available to a limited number of PayPal customers in the United States, as the country is one of MetaMask’s top user markets.
Our US users will now be able to fund their wallet with ETH via @PayPal! 🦊— MetaMask 🦊💙 (@MetaMask) December 14, 2022
Rolling out in the next weeks in the US, excl. Hawaii, through our mobile app (make sure to update to v5.13.0)🧵👇https://t.co/392JwFYF3m
Users will be able to effortlessly purchase and transfer ETH from PayPal to MetaMask by just entering into their Mobile MetaMask App, which will then redirect them to their PayPal account to complete transactions.
Lorenzo Santos, MetaMask’s product manager, stated:
“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.”
PayPal is one of a growing number of traditional payment businesses that are incorporating cryptocurrency into their services and attempting to make it easier for consumers to connect with the crypto ecosystem.
MoneyGram, a worldwide digital peer-to-peer payments provider, said in November that consumers in the United States, including those in Washington, DC, will be able to purchase, trade, and store cryptocurrencies — specifically, Bitcoin, Ethereum, and Litecoin — using its MoneyGram mobile app.
Western Union also filed three trademarks in October for managing digital wallets and transferring digital assets, as well as commodities derivatives, indicating that the payments business intends to expand into the Web3 area.
Cash Software, a mobile payment processing app, has introduced support for Bitcoin Lightning Network transactions, allowing users to send and receive BTC using the quicker, more efficient layer-2 protocol.