Is a MetaMask to PayPal deposit feature coming? It sure seems like it as the crypto wallet providers partners with the financial giant.
With the upcoming release of MetaMask for Chrome, Ethereum (ETH) holders will soon be able to use PayPal to purchase ETH.
Similar to PayPal’s checkout feature at online shops like Etsy and eBay, ConsenSys’ integrated MetaMask wallet will allow Ethereum buyers to pay for their purchases using MetaMask, tap the “pay” button, log into PayPal, and then complete the transaction.
The company announced that some U.S.-based Metamask customers would be able to purchase Ethereum using PayPal starting Wednesday. It plans to roll out the feature to all U.S.-based customers within the next few weeks.
If you want to interact with Web3 applications like Play-to-Earn (PTE) and some Metaverse Platform (MVP) apps, adding PayPal to Metamask could widen the customer base by simplifying the payment process.
This new partnership with PayPal allows the service to offer seamless access for US users to purchase cryptocurrencies using their PayPal accounts as an integration of deposits with MetaMask’s web3 wallets for Ethereum transactions.
PayPal has embraced cryptocurrencies in several ways over the last couple of decades. First, it allowed its users to purchase, hold, and digital trade currency on its platform back in 2020. Then, in 2021, it introduced a checkout option that supports Bitcoin, Litecoin, Ether, and Bitcoin Cash.
Since 2020, PayPal has allowed its customers to move their cryptocurrency from one wallet or exchange to another. Likewise, MetaMask aims to help bring more users to the Web3 ecosystem by introducing them to Ethereum. It’s a partnership of interest.
MetaMask to PayPal Deposit May Not Be The Only Company Or Feature
Last week, PayPal rival Stripe announced a new service for Web 3 companies to let them accept cryptocurrency purchases from their existing customer base using fiat currency.
PayPal will be integrating its Buy, Sell and HODL cryptocurrency services with MetaMask wallet as the two firms look to widen users’ options for transferring digital currencies from one platform to another.
According to a press release statement, the collaboration between PayPal and ConsenSys aims to allow users to purchase Ethereum using PayPal easily. In addition, the solution is designed to help people transfer Ethereum from PayPal to MetaMask without hassle.