- It is similar to PayPal’s checkout process for consumers to pay using their account details.
- This improvement would help bring more consumers into the Web3 ecosystem.
To streamline the cryptocurrency purchasing process, PayPal is collaborating with the cryptocurrency wallet MetaMask. According to the joint statement, both organizations are looking at providing consumers with a variety of methods for moving their digital assets across platforms. A joint press statement was issued today by the two firms, announcing their partnership.
Users who want a less cumbersome approach to acquiring cryptocurrency will like the collaboration between PayPal and MetaMask. The collaboration arose from a desire to encourage a method that is less complicated and more widely used by PayPal customers who are interested in entering the market.
Convenient and Simple Feature
According to the announcement, ConsenSys, the company behind MetaMask, will soon include the ability for users to utilize PayPal to purchase Ethereum directly from inside the app. Furthermore, this advancement allows for a smooth transition of digital assets between the two systems.
The improvement has features that are comparable to those seen on well-known marketplaces like Etsy and eBay. And it’s a carbon copy of PayPal’s checkout process for consumers to pay using their account details. The inverse is also true now that one can use MetaMask to buy cryptocurrencies.
Lorenzo Santos, the product manager of MetaMask, has said that this improvement would help bring more consumers into the Web3 ecosystem. “This integration with PayPal will allow our U.S. users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem,” Santos noted.
This is another step in the direction of concord between PayPal and cryptocurrency. Since 2020, digital assets have been the company’s main focus, and this cooperation will see that integration through to completion.
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