MetaMask, a popular crypto wallet and decentralized application (DApp) provider, has announced that it will now allow Ether purchases through PayPal for its US users. The company claims to be the first Web3 wallet to offer this integration. This collaboration allows American users to select PayPal as their payment method for buying Ether, and it also enables them to transfer Ether from PayPal to MetaMask.
This integration is part of MetaMask’s efforts to expand its reach and offer on-ramps for its customers. PayPal joins a wide ecosystem of payment providers already integrated with MetaMask, including Coinbase Pay, MoonPay, Sardine, Transak, and Wyre, among others. MetaMask’s parent company, ConsenSys, partnered with PayPal last December to allow users to buy crypto seamlessly and explore the Web3 ecosystem.
MetaMask’s Buy Crypto Feature
MetaMask has recently introduced a new feature for its users to purchase crypto with fiat currency directly from its Portfolio DApp. The new functionality, called “Buy Crypto,” allows users to purchase a range of cryptocurrencies using various payment methods, including debit or credit cards and bank transfers. The service will cover over 189 countries and support more than 90 cryptocurrencies across eight networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche, Fantom, Optimis, and Celo. For each purchase, the feature considers the user’s location and local regulations to provide a customized quote.
MetaMask’s Nigerian Partnership
MetaMask has also partnered with crypto fintech MoonPay to expand direct access to cryptocurrencies in Nigeria. The wallet now allows users in Nigeria to purchase crypto via instant bank transfers. Nigeria is ranked among the top 20 countries in cryptocurrency adoption according to the Chainalysis 2022 Global Crypto Adoption Index.
In its recent quarterly report filed with the US Securities and Exchange Commission, MetaMask disclosed a total of $943 million in crypto assets as of March 31, 2023, a 56% increase from the previous quarter. MetaMask’s expansion and integration efforts are expected to further increase its user base and adoption globally.