Metamask has added support for Paypal which will henceforth allow users to buy Ethereum directly from the MetaMask software wallet app.
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PayPal and MetaMask to Facilitate Access to Crypto
As per the announcement, the feature will only be available to the selected US users and in the coming weeks, MetaMask will start rolling out the feature to more users slowly.
The feature will only be available via the MetaMask mobile app. The MetaMask browser extension already offers U.S. users the ability to purchase cryptocurrency directly from their wallet through CoinbasePay, MoonPay, or Wyre, and Transak.
Lorenzo Santos, the product manager of MetaMask said in a statement that the feature will pave the way for US users into web 3.0.
“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 said.
According to Santos, in the next quarter year, the feature will be available on the MetaMask desktop version. He also added that MetaMask’s 1% service fee will be charged to all purchases made and applicable PayPal fees as well.
When asked if Apple’s 30% in-app purchase fee would also apply to such ETH purchases made on the MetaMask mobile app, Santos said that MetaMask “cannot provide any information regarding this at the moment.”
Ethereum taking priority in MetaMask offering is expected, this is because MetaMask is an EVM-only wallet, unlike Coinbase and Phantom wallets.
ConsenSys is also a MetaMask parent company which is handled by Joe Lubin, an Ethereum co-founder.
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