On December 14, Ethereum software firm Consensys announced that it has joined forces with payment processor giant PayPal. The integration allows users to access Metamask to purchase ETH via the PayPal wallet.
Consensys Collaborates With Payment Processor PayPal
According to Consensys, Metamask users can now buy Ethereum (ETH) through PayPal’s payment processor. The company, which provides financial technology services, started providing cryptocurrency services in 2021 and its CEO stated that the demand for cryptos has surpassed expectations.
The announcement was made by Consensys on Wednesday, and the team explained further. “Metamask will be the first Web3 wallet to leverage PayPal to foster more successful access transactions.” This partnership will enable PayPal account owners to use their accounts to buy Ethereum (ETH). Through the Metamask wallet, users can log into PayPal and access the Web3 platform.
As reported in the Consensys blog post, the PayPal integration with Metamask is just one of many “series of announcements” associated with the Metamask mobile wallet. “This integration with PayPal will allow our US users to not only acquire crypto easily via Metamask, but also to easily explore the Web3 ecosystem,” said Lorenzo Santos, Metamask product manager.
The partnership announcement follows the recent controversy surrounding Consensys’ privacy policy, which explains the data they collect from Metamask users. PayPal recently published a Terms of Service (ToS) document which included incorrect information, stating that misinformation spreading would result in a $2,500 fine. PayPal clarified that “The ToS notice was recently issued in error and included incorrect information.”
What do you think about Metamask implementation allowing Web3 users to buy Ethereum in their wallets via the app? Let us know your thoughts on this topic by leaving comments below.
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