By
Temitope Olatunji
April 18th, 2024
MetaMask has been focused, primarily, on expanding its reach and boosting global crypto adoption.
Crypto wallet MetaMask has begun rolling out PayPal-powered Ether (ETH) purchases to all its US-based users. Although it added the PayPal integration to its software wallet last December, the feature was not immediately available to all users in the US.
However, the latest reports suggest that all users in the United States may now seamlessly purchase and transfer ETH directly from their MetaMask mobile apps.
The rollout has been confirmed by MetaMask to be a first of its kind. According to the company, it is the first Web 3.0 wallet to offer ETH transactions via PayPal.
MetaMask Continues Striking Partnership Deals Focused on Bolstering Crypto Adoption
MetaMask has been focused, primarily, on expanding its reach and boosting global crypto adoption. To this end, it has been pushing for strategic integrations and partnerships in recent times.
Recall, the crypto wallet already enjoys partnerships with multiple payment providers. Some of them include MoonPay, Coinbase Pay, Transak and Wyre, and Sardine among others. Therefore, PayPal is only the latest payment firm to join its fast-growing community of payment providers.
Meanwhile, MetaMask also recently introduced a new feature it calls “Buy Crypto”. The feature allows users to purchase crypto with fiat currency directly from its Portfolio DApp. With the feature, users may purchase cryptocurrencies via various payment means including bank transfers and debit or credit cards.
Similarly, PayPal also does not come into the partnership empty-handed. The partners appear to have their goals aligned considering that PayPal has also been keen on crypto adoption. According to a Q1 report it filed with the US Securities and Exchange Commission (SEC), PayPal now has a total of $943 million in crypto assets. And that represents about a 56% jump from what it had in the previous quarter.
The report, without a doubt, is proof of its efforts toward crypto adoption and MetaMask is sure to help advance those aims. MetaMask will also seek to take advantage of PayPal’s wide user base to expand its reach and offer on-ramps for its customers. As of publication, PayPal has no less than 429 million users globally.