MetaMask has recently announced that it has added PayPal as a payment option for Ethereum purchases. This new payment channel is currently available to U.S. users only. According to MetaMask, it is the first web3 wallet to enable users to buy ETH using PayPal, a leader in the digital payment space. MetaMask’s integration with PayPal supports ETH transfers from PayPal to MetaMask which is expected to encourage more self-custody adoption.
However, many Twitter users raised queries about when MetaMask would be launching its own token. The company has advised users to avoid scams for MASK tokens and confirmed that there are no immediate airdrop plans.
MetaMask PayPal Collaboration
The partnership was initially announced in December, but payments were only launched recently. Users can now add ETH to their MetaMask wallet directly using their PayPal balance, linked bank account or debit card.
Ethereum purchases can be made conveniently through the MetaMask browser extension, mobile app or portfolio feature. Additionally, the “Buy Crypto” feature also supports bank transfers, debit and credit cards.
Aside from PayPal, MetaMask has also integrated with other payment channels like Coinbase Pay, MoonPay, Sardine, Transak, and Wyre.
Recent Moves by PayPal and MetaMask
In its quarterly report filed in May, PayPal disclosed that it now has $943 million in crypto assets under management as of March 31 – this marked a 56% increase over the previous quarter when the company recorded $604 million.
In March, MetaMask partnered with MoonPay to provide crypto offerings in Nigeria while in February, the company added privacy features to its wallet following criticism of its handling of transaction data.
