PayPal Partners With Crypto Wallet MetaMask
PayPal will now integrate its buy, sell and hold crypto services with MetaMask wallet.
By Anna B Kiwanuka
Two of the industry’s top names are working to make buying cryptocurrencies that much easier. Coindesk recently reported that PayPal is working alongside the cryptocurrency wallet MetaMask to create a new and more efficient cryptocurrency buying experience. The two companies revealed this collaboration through a press release published on Thursday.
The announcement also relays that the two entities seek diverse options for users to transfer their digital assets.
For people searching for a simpler way to buy bitcoins, the collaboration between PayPal and MetaMask is especially exciting news. Additionally, the partnership was created out of the intention to support a simpler and more mainstream approach for PayPal users who want to get into the industry.
The press release also revealed that the MetaMask developer, ConsenSys, is set to allow users to select PayPal as a payment option when buying Ethereum within the MetaMask platform. Moreover, this development integrates what is a seamless transfer of digital assets between the two platforms.
The development sports a similar functionality to features already available on popular platforms like Etsy and eBay. Additionally, this replicates the checkout feature that allows customers to purchase using their PayPal account. Conversely, the same will now apply when purchasing cryptocurrency via MetaMask.
According to Lorenzo Santos, product manager at MetaMask, this advancement will benefit customers by introducing them to Web3. “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,” Santos stated.
The development represents PayPal’s yet another moment of embrace for crypto. The partnership continues the integration of digital assets that have been a focal point of the financial firm since 2020.