By collaborating with PayPal, MetaMask aims to enable seamless ETH purchases for its customers.
ConsenSys, a New York-based blockchain software technology company known for its crypto wallet MetaMask, has teamed up with PayPal to allow MetaMask customers to purchase and transfer Ethereum (ETH) via an online payment platform.
According to the press release shared on December 14th, initially, the feature will be available to select PayPal customers in the United States, excluding Hawaii.
Did you know?
Subscribe - We publish new crypto explainer videos every week!
What Does Staking Mean in Crypto? (Easily Explained!)
By integrating PayPal into MetaMask, the company aims to enable seamless Ethereum purchases and transfers, making it easy for customers to experience the Web3 world.
When talking about the collaboration, MetaMask Product Manager, Lorenzo Santos, 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.
To use the feature, users first have to login into their Mobile MetaMask App, tap the Buy button and select “PayPal.” After filling in the blank with the desired “dollar amount worth of ETH,” users will be automatically redirected to PayPal to complete the transaction.
MetaMask Santos has also stated that the company is looking to add PayPal integration into its desktop browser extension “in the next quarter.” On top of that, Santos noted that by making ETH purchases via PayPal, users are set to pay MetaMask’s 1% service fee and all applicable PayPal fees.
The news was also celebrated by PayPal’s Crypto Communications Lead Aaron Gould on Twitter.
It is worth noting that recently, ConsenSys got into a tricky situation when it changed its privacy policy. At the end of November, the company updated its privacy policy, revealing that it is set to collect user IP and wallet addresses. Moreover, the company aimed to gather user personal information, such as usernames, passwords, gender and investors’ financial data.
The majority of ConsenSys customers were not happy with the decision. Some users stated that the company's decision was “unacceptable.”
