The widely used cryptocurrency wallet known as MetaMask recently made an announcement about a new connection with the online payment service PayPal. This integration will make it possible for customers located in the United States to purchase Ethereum (ETH) directly using their PayPal balance, a connected bank account, or a debit card.
PayPal now has over 426 million customers throughout the globe and a total asset value of $77 billion. The company’s foray into the cryptocurrency market is quickly expanding, and its crypto holdings are expected to surpass $1 billion in the first quarter of 2023. The newly formed relationship with MetaMask is well positioned to increase the amount of mainstream acceptance of Ethereum and cryptocurrencies in general.
MetaMask, which is a well-known browser-based interface to the Ethereum blockchain, has evolved into a one-stop shop for people who are interested in purchasing Ethereum using traditional currencies. The wallet, which now has 30 million users, has developed into an essential piece of equipment for gaining access to Ethereum-based second layers and other chains, such as the Binance Chain.
However, it is up against formidable opposition from other browser-based addons. When it comes to buying Ethereum on the MetaMask platform, users have access to a wide variety of alternatives, with PayPal being one of the less common ones.
The incorporation of MetaMask is considered a game-changer despite the fact that chargebacks, which can be readily challenged on PayPal, are a source of worry.
MetaMask might assist to reduce the number of conflicts that arise in the cryptocurrency area by using the blockchain as a form of verification. Additionally, it could open up new opportunities for PayPal inside the cryptocurrency industry.
Compiled by Coinbold