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Monday, March 4, 2024

US Customers Can Pay With Ethereum Through PayPal via MetaMask Integration

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On May 11, MetaMask revealed that it had added PayPal as a payment option for Ethereum purchases. However, the new payment channel is only available to U.S. users.

“MetaMask is the first web3 wallet to enable users to buy ETH using PayPal, a leader in the digital payment space,” it said.

The integration also supports ETH transfers from PayPal to MetaMask, creating more self-custody adoption.

However, many of those responding to the tweet were more interested in when MetaMask would be launching its own token. The firm has urged users to avoid scams for MASK tokens, adding that there are no immediate airdrop plans.

MetaMask PayPal Collaboration

The collaboration was initially announced in December, but payments have only just been launched.

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“With this new integration, users will be able to use their PayPal balance, linked bank account, or debit card to add ETH to their MetaMask wallet directly.”

Ethereum purchases can be made easily through the MetaMask browser extension, mobile app, or portfolio feature. The “Buy Crypto” feature also supports debit and credit cards and bank transfers.

In addition to PayPal, MetaMask already supports several payment channels, including Coinbase Pay, MoonPay, Sardine, Transak, and Wyre.

Recent Moves by PayPal and MetaMask

In a quarterly report filed this week, PayPal revealed it had $943 million in crypto assets under management as of March 31. Furthermore, the figure is a 56% increase over the previous quarter when the company disclosed $604 million.

In late March, MetaMask integrated crypto fintech platform MoonPay to expand its offerings in Nigeria.

In February, the popular Web3 wallet unveiled a raft of privacy features following online criticism of how it handled transaction data.

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