Buy Bitcoin, Ether, Litecoin and other cryptos with PayPal

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MetaMask users in the US can now buy ETH with their PayPal accounts. The ConsenSys and PayPal partnership comes after the financial services company also expanded its crypto platform.

ConsenSys, the creators of MetaMask, becomes the first Web3 company to partner with online financial services giant PayPal.

ConsenSys announced in a press release that the partnership integrates PayPal as a payment option in the MetaMask wallet app. US MetaMask users can now pay for Ether (ETH) purchases with their PayPal accounts from the wallet.

MetaMask has already rolled out the feature to screen users in the United States. Plans are underway to onboard the rest of its US customers in the coming weeks.

According to ConsenSys Product Manager Lorenzo Santos, the integration makes buying crypto through MetaMask seamless. It also allows users to easily explore the Web3 ecosystem through the self-service wallet.

This integration with PayPal will allow our US users to not only seamlessly purchase crypto through MetaMask, but also easily explore the Web3 ecosystem, Santos said in the press release.

MetaMask intends to help attract more users to the Web3 ecosystem. MetaMask users can currently pay for their crypto purchases with their Visa and MasterCard issued debit/credit cards. Digital wallets such as Google Pay and Apple Pay and wire transfers from select banks in the US and Europe are also supported.

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From PayPal, the partnership marks a deeper dive into the world of Web3. The e-commerce titan first launched its crypto buy, sell, and hold service in October 2020.

The ConsenSys partnership comes after PayPal enabled crypto transfers between its platform and several popular crypto exchanges and wallets in June. At the time, Jose Fernandez da Ponte, senior vice president of blockchain, crypto and digital currencies at PayPal, made an upbeat remark about the move.

He said that PayPal, being a payment and commerce company, aims to increase access to crypto. Cryptocurrencies supported by the platform currently include Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.

PayPal isn’t the only one more open to Web3 adoption

Other mainstream platforms have also moved away from custodian-only crypto integration models. Previously, multi-asset brokerage platform Robinhood also announced the expansion of its crypto services. Robinhood now allows crypto investors to send their holdings to other wallets.

Similarly, PayPal competitor Stripe has also launched its own tool to help Web3 businesses enable their customers to buy crypto with fiat currencies. The tools will also handle fraud, compliance, and know-your-customer (KYC) checks for its partners according to a Fortune report.

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