On Dec. 14, the Ethereum software firm Consensys announced that the company has teamed up with the payment processing giant Paypal. The integration allows Metamask wallet users to purchase ethereum via Paypal from within the Web3 wallet application.
ConsenSys Ties Up With Payment Giant PayPal
According to ConsenSys, MetaMask users can now buy Ethereum (ETH) using payment provider PayPal. Financial technology company PayPal will start offering cryptocurrency services in 2021 and the company’s CEO has elaborated that the demand for crypto has surpassed initial expectations.
The Ethereum software firm Consensys explained Wednesday it has teamed up with Paypal, and the team further detailed that “Metamask will be the first Web3 wallet to leverage PayPal to drive more successful on-ramp transactions.” Essentially, the partnership will allow users to utilize their Paypal account to purchase ethereum (ETH) after the Metamask owner logs into the Paypal platform via the wallet.
The PayPal integration with MetaMask is one of a “series of announcements” that will be tied to the MetaMask mobile wallet, said ConsenSys’ blog post. “This integration with PayPal will allow our US users to not only buy crypto seamlessly through MetaMask, but also to more easily explore the Web3 ecosystem,” said Lorenzo Santos, Product Manager at MetaMask. “
The partnership announcement follows the controversial Consensys privacy policy news that details the company collects specific data from Metamask users. Paypal has also been dealing with controversy in recent times after the company erroneously published a terms of service (ToS) document that said people who spread disinformation would be fined $2,500. However, Paypal claimed the ToS “notice recently went out in error that included incorrect information.”
