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PayPal to integrate its crypto services with MetaMask wallet for ether transactions

PayPal to integrate its crypto services with MetaMask wallet for ether transactions


Seeking Alpha
2022-12-14 23:07:39
PayPal to integrate its crypto services with MetaMask wallet for ether transactions

Payments giant PayPal ( NASDAQ: PYPL ) is integrating its cryptocurrency services with self-custodial crypto wallet MetaMask to allow U.S. MetaMask users to buy ethereum ( ETH-USD ) through PayPal's platform, according to a Wednesday blog post from ConsenSys, the developer of MetaMask. The offering, which will initially be available to certain PayPal ( PYPL ) users, seeks to offer an easier way to buy crypto. In this case, all they have to do is log into the Mobile MetaMask App to then select their PayPal account as a payment option to seamlessly purchase and transfer ether ( ETH-USD ). The move comes as the downfall of centralized crypto exchange FTX ( FTT-USD ) ultimately boosted the popularity of self-custody wallets , which allow users to store their tokens and act as their own banker instead of relying on off-chain platforms. “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,” said Lorenzo Santos, product manager for MetaMask. PayPal ( PYPL ), which started offering its crypto-focused services in October 2020, reportedly hikes fees on crypto trades of under $200 .

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