According to a blog post by MetaMask developer ConsenSys, payments giant PayPal (NASDAQ: PYPL ) is integrating its cryptocurrency service wi...

PayPal integrates its crypto service with MetaMask wallet for ether transactions



According to a blog post by MetaMask developer ConsenSys, payments giant PayPal (NASDAQ: PYPL ) is integrating its cryptocurrency service with self-custodial crypto wallet MetaMask to allow U.S. MetaMask users to purchase Ethereum (ETH ) through the PayPal platform. -USD), on Wednesdays.

The product, which will initially be available to certain PayPal (PYPL) users, is intended to provide an easier way to purchase cryptocurrencies. In this case, all they have to do is log into the Mobile MetaMask app and select their PayPal account as the payment option to seamlessly buy and transfer Ether (ETH-USD).

The move comes after the demise of centralized cryptocurrency exchange FTX (FTT-USD) finally fueled the popularity of self-custodial wallets, which allow users to store their coins and act as their own bankers, rather than relying on them Leave the off-chain platform.

“This integration with PayPal will allow our US users not only to seamlessly purchase cryptocurrencies through MetaMask, but also easily explore the Web3 ecosystem,” said Lorenzo Santos, Product Manager at MetaMask.

PayPal (PYPL), which began offering its cryptocurrency-focused service in October 2020, is reportedly raising fees for cryptocurrency transactions under $200.