MetaMask, a crypto wallet developed by ConsenSys, has announced a partnership with PayPal that will allow most US users to purchase Ethereum through their wallet using the payment service.
This partnership makes MetaMask the first Web3 platform to offer such a service through PayPal, and the service will be available to all US users except those in Hawaii. ConsenSys plans to roll out the service nationwide in the coming weeks.
This integration will enable US users to easily purchase crypto through MetaMask and explore the Web3 ecosystem, according to Lorenzo Santos, a product manager for MetaMask. Web3 refers to the development of a decentralized internet based on blockchain technology.
PayPal began offering users the option to purchase Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in 2020 and announced plans in May of this year to allow users to transfer their crypto to third-party wallets.
MetaMask is only compatible with blockchains supported by the Ethereum Virtual Machine (EVM), and the CEO of ConsenSys, Joseph Lubin, is also a co-founder of Ethereum.
Some former PayPal leaders, known as the “PayPal Mafia,” have recently criticized the company’s de-platforming practices.
One member of this group, Peter Thiel, the company’s former CEO, has claimed that PayPal has strayed from its roots of giving customers more control over their money.
Other members of the group include current Twitter CEO Elon Musk.