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Paypal Holdings Inc. is collaborating with MetaMask crypto wallet to offer an easy way for users to buy cryptocurrency. It should be noted that this Web3 wallet is mainly for Ethereum transactions as it was designed to be used to interact with the Ethereum blockchain.
PayPal’s decision to integrate the MetaMask wallet into its platform will allow users to purchase and move ether (ETH) from PayPal to MetaMask. Based on the reports, the American multinational financial technology company that mainly operates online payment systems will initially roll out the Web3 wallet to a small number of PayPal users in the United States.
Later, it will be available to most users, and they can start buying Ether which is the second most popular cryptocurrency today, via the Paypal platform. It was said that the process of buying is very simple as it is similar to the company’s checkout feature at online stores such as eBay and Etsy.
As per Fortune Crypto, once ConsenSys’s MetaMask wallet is integrated into PayPal, select users can start buying and transferring ETH by logging in to their MetaMask accounts. They must also be logged in to Paypal before clicking the “buy” button on the wallet’s site.
The US-based fintech firm said that US-based users of PayPal and MetaMask can already try the service starting Wednesday this week. The rest of the users in the country may have to wait a few weeks more before they can avail of the service.
Crypto wallets are often used in play-to-earn games and metaverse platforms, and adding them to PayPal is expected to further broaden MetaMask’s customer base. This is because the complexity of buying crypto is removed with the integration into PayPal.
“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,” MetaMask’s product manager, Lorenzo Santos, said in a blog post.
MetaMask further said that “the MetaMask and PayPal integration is the latest in a series of announcements that aims to improve and diversify payment options for users within the MetaMask mobile app.”
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