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MetaMask Enables U.S. Users To Buy Ethereum With PayPal In The Latest Update

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One of Metamask’s largest markets, the United States, has begun to offer customers the ability to purchase Ether using PayPal. MetaMask is a provider of cryptocurrency wallets and decentralized applications (DApps). The company asserts that its Web3 wallet is the first to allow PayPal transactions for Ether.

Due to the agreement, PayPal is now an option for American consumers when using MetaMask to purchase ETH. Transferring ETH from PayPal to MetaMask is also made easy through the integration.

Last December, the financial technology company joined forces with MetaMask’s parent company ConsenSys, stating that the alliance would make it simple for customers to purchase cryptocurrencies and navigate the Web3 ecosystem. 

In addition to Coinbase Pay, MoonPay, Sardine, Transak, and Wyre, there is a huge ecosystem of payment gateways already linked with MetaMask. PayPal is the latest such. The firm declared a total of $943 million in crypto assets as of March 31, 2023, in a quarterly report filed with the U.S. Securities and Exchange Commission. This represents a 56% increase from the previous quarter when the company recorded crypto assets of $604 million.

The new integration was disclosed just a few weeks after MetaMask unveiled a new feature allowing users to buy cryptocurrency straight from its Portfolio DApp using fiat money. With the new feature, “Buy Crypto,” customers may now buy a variety of cryptocurrencies using a variety of payment options, such as bank transfers and debit or credit cards.

The service will be available in more than 189 countries and will support more than 90 cryptocurrencies on eight different networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche, Fantom, Optimis, and Celo. The tool considers the user’s location and regional laws for each purchase to generate a personalized quote.
In order to broaden its target market and provide on-ramps for its customers, MetaMask has been promoting integrations and collaborations. One of its most recent initiatives was to increase Nigerians’ direct access to cryptocurrency. The wallet now allows users in the African nation to buy cryptocurrency via immediate bank transfers thanks to a partnership with the crypto fintech company MoonPay. According to the Chainalysis 2022 Global Crypto Adoption Index, Nigeria is among the top 20 nations for cryptocurrency adoption.

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