The service will initially be offered to PayPal users within the United States.Digital payment platform PayPal is working with MetaMask parent company ConsenSys to enable MetaMask users to purchase and transfer Ethereum through the PayPal platform.
According to the Dec. 14 announcement, the service will initially be offered only to selected PayPal users within the United States, as the country is one of MetaMask's largest markets in terms of users. Later, it will expand to the rest of the world.
The partnership is designed to allow users to seamlessly purchase and transfer ETH from PayPal to MetaMask by simply logging into their MetaMask Mobile App, which then redirects them to their PayPal account to complete their transactions.
Lorenzo Santos, product manager for MetaMask, shared:
"Thanks to this integration with PayPal, our U.S. users can not only seamlessly buy crypto through MetaMask, but also easily explore the Web3 ecosystem."
PayPal is one of a growing number of traditional payment companies integrating crypto into their services and striving to make it easy for users to interact with the crypto ecosystem.
In November, global digital peer to peer payment company MoneyGram announced that U.S. users, including those in Washington, DC, could buy, sell and hold cryptocurrency. This specifically involves Bitcoin, Ether and Litecoin which can be obtained through the MoneyGram mobile app. In October, Western Union also filed three trademarks for managing digital wallets and exchanging digital assets, as well as commodity derivatives, indicating that the payments company likely plans to expand its services to Web3 applications.
The Cash App mobile payment app has also added support for transactions over the Bitcoin Lightning Network so users can send and receive BTC using the faster, more efficient layer-2 protocol.
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