The union of MetaMask and PayPal has changed the game for cryptocurrency enthusiasts in the United States, bringing ETH purchases via PayPal to the fore. This collaboration, first announced in 2022, breaks new ground as MetaMask becomes the first web3 wallet to offer ETH transactions through PayPal, expanding the financial technology firm’s portfolio.
American users can now select PayPal as their payment method when purchasing ETH via MetaMask, while also being able to transfer ETH from PayPal to MetaMask. This development stemmed from a partnership between PayPal and ConsenSys, MetaMask’s parent company. Initiated in December, the collaboration aimed to enable users to buy crypto seamlessly, as well as explore the Web3 ecosystem with ease.
As if this remarkable alliance wasn’t enough, PayPal is now in league with an extensive range of payment providers, such as Coinbase Pay, MoonPay, Sardine, Transak, and Wyre, among others. In the first quarter of 2023, PayPal boasted a whopping $943 million in crypto assets, illustrating a 56% increase from the previous quarter when the company reported $604 million in cryptocurrency assets.
Furthermore, MetaMask has introduced the “Buy Crypto” feature for users who wish to purchase crypto directly from their Portfolio Dapp using fiat currency. Available in over 189 countries, this service supports over 90 cryptocurrencies across eight networks, such as Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimis, and Celo.
Customized quotes that consider a user’s location and local regulations are a convenient touch to this revolutionary feature. MetaMask appears to be on a mission to make crypto more accessible, with new integrations and partnerships constantly in the works. One recent endeavor aimed to provide Nigerians with direct access to cryptocurrencies. In a partnership with MoonPay, MetaMask now allows users in Nigeria to purchase crypto via instantaneous bank transfers.
Considering Nigeria’s high ranking on the 2022 Chainalysis Global Crypto Adoption Index, this could prove fruitful not only for MetaMask but also for cryptocurrency’s future. It seems that companies like MetaMask are pushing the boundaries of cryptocurrency accessibility and integration, resulting in exciting prospects for blockchain technology and crypto markets. However, one must carefully examine and navigate the associated risks to fully reap the benefits of this ever-evolving tech landscape.
Source: Cointelegraph
