Crypto firm ConsenSys is announcing a new partnership with payments giant PayPal to create a convenient way for investors to purchase Ethereum (ETH).
According to a recent company announcement, MetaMask, the popular crypto wallet developed by the Ethereum software company, will integrate PayPal into its platform to provide investors in the US with an easy way to buy the leading smart contract platform.
“Today, ConsenSys, a market-leading Web3 company, announced that US MetaMask users will be able to purchase crypto (ETH) from within the app using PayPal. MetaMask will be the first Web3 wallet to leverage PayPal to drive more successful on-ramp transactions.”
To use PayPal within MetaMask, users have to login, tap on the “buy” button, select PayPal and then enter the amount of ETH they’d like to purchase or send.
According to Lorenzo Santos, MetaMask’s product manager, the wallet also allows users to explore and interact with Web3 applications, including non-fungible token (NFT) marketplaces, blockchain-based games and decentralized finance (DeFi) applications.
Says Santos,
“This integration with PayPal will allow our US users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem.”
ConsenSys says that the new feature will initially only be available to select customers in the US, but it plans to roll out the service nationwide within a few weeks.
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Featured Image: Shutterstock/Tithi Luadthong