MetaMask, a leading crypto wallet and decentralized application (DApp) provider, has announced the integration of PayPal for Ether (ETH) purchases for its US users. As one of MetaMask’s largest markets, this collaboration positions MetaMask as the first Web3 wallet to offer ETH transactions via PayPal.
The partnership allows American users to select PayPal as their preferred payment method when buying ETH through MetaMask, facilitating seamless ETH transfers from PayPal to MetaMask wallets. This move follows MetaMask’s collaboration with parent company ConsenSys in December, which aimed to simplify crypto purchases and Web3 ecosystem exploration for users.
PayPal joins an extensive list of payment providers already integrated with MetaMask, such as Coinbase Pay, MoonPay, Sardine, Transak, and Wyre. In a recent quarterly report filed with the U.S. Securities and Exchange Commission, the company reported a significant increase in crypto assets, totaling $943 million as of March 31, 2023, marking a 56% jump from the previous quarter.
Global coverage and cryptocurrency support
The PayPal integration comes on the heels of MetaMask’s recent announcement of a new feature allowing users to purchase cryptocurrencies using fiat currency directly from its Portfolio Dapp. The “Buy Crypto” functionality supports a variety of payment methods, including debit or credit cards and bank transfers, and covers over 189 countries.
The “Buy Crypto” service supports over 90 cryptocurrencies across eight networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche, Fantom, Optimis, and Celo. The feature provides a tailored quote based on the user’s location and local regulations for each transaction.
In an effort to expand its reach and provide on-ramps for customers, MetaMask has pursued various integrations and partnerships. One recent development focused on increasing direct access to cryptocurrencies in Nigeria, a top 20 country in cryptocurrency adoption. Through its partnership with crypto fintech MoonPay, MetaMask now allows Nigerian users to purchase cryptocurrencies via instant bank transfers.