PayPal partners with MetaMask to allow users buy crypto

PayPal (NASDAQ: PYPL) and MetaMask have partnered to allow users to fund their wallets and buy crypto, the companies announced on Wednesday.

The integration means MetaMask users can seamlessly use funds in their PayPal accounts to buy Ethereum. Per the two companies, the ability to buy Ethereum with PayPal is a new functionality that will initially be available to select customers in the United States.

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The feature is available as from Wednesday 14 December 2022, with accessibility set to expand to all eligible customers in the US over the next few weeks.

First Web3 wallet to integrate PayPal

MetaMask is one of the most widely used Ethereum wallets designed to support most Ethereum-based tokens. The wallet is available as an extension in a user’s browser, and supports non-fungible tokens (NFTs), decentralised finance (DeFi) and metaverse tokens.

The partnership between PayPal and ConsenSys, the Ethereum software developer company behind MetaMask, means the crypto wallet has become the first in the Web3 ecosystem to integrate PayPal.

Lorenzo Santos, Product Manager for MetaMask commented:

“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.”