PayPal Partners With MetaMask
Leading software company ConsenSys pаrtnering up with PayPal via MetaMask to enable the platform's U.S. customers to buy Ethereum (ETH).
However, the functionality will only be available to U.S. users of the app. Following the integration, MetaMask will become the first Web3 app to take advantage of PayPal’s capabilities to make crypto entry more accessible to new users.
Launched in 2016, MetaMask is the world’s leading non-certified crypto wallet and reportedly has more than 30 million monthly active users.
The wallet also has a browser extension that acts as a wallet for interacting with the ETH blockchain and all Ethereum-compatible networks.
Features of MetaMask
Metamask offers multiple functionalities, including the ability for users to interact with NFT marketplaces, play “play-to-earn” games, use decentralized financial platforms (DeFi), participate in decentralized autonomous organizations (DAOs), and interact with the metaverse.
Due to the sharp increase in demand for digital assets from institutions, MetaMask created MetaMask Institutional (MMI) to meet the needs of these investors.
Over the past year, MetaMask has added more than five institutional custodians to improve choice, security and operational efficiency for crypto funds, trading desks, DAOs and other organizations seeking exposure to digital assets.
PayPal’s crypto services expand
In addition to the MetaMask integration, according to PayPal’s latest report, there are approximately 429 million active users of the company worldwide.
Recently, the payments platform expanded its crypto services to Luxembourg, signaling its intention to offer its services across the European Union while complying with existing and upcoming regulations.