MetaMask’s parent company is collaborating with PayPal in terms of transacting assets.
ConsenSys announced on December 14, “PayPal will seamlessly integrate within the MetaMask wallet, providing customers with a simple and convenient way to buy Ethereum with PayPal. This new functionality is available to select U.S. users starting today and rolling out to all eligible U.S. customers in the coming weeks.”
MetaMask-PayPal Collaboration —
ConsenSys, a well-known Web3 company, announced that MetaMask users could purchase Ether within the app through PayPal United States. MetaMask will be the first company to use PayPal to power more successful transactions.
The MetaMask: PayPal collaboration intends to provide users the best comfort instead of proceeding with the long and confusing way of transacting assets. The MetaMask users can Buy or transfer ETH by only just logging in to the MetaMask mobile application.
The Product Manager of Metamask, Lorenzo Santos addresses, “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.”
About Metamask and ConsenSys—
MetaMask’s main purpose is to interact with the Ethereum blockchain. MetaMask is a software cryptocurrency wallet that helps users to approach Ethereum wallets through a browser or mobile application.
According to Bloomberg, in November 2021, the MetaMask browser extension had 21 million active monthly users.
Joseph Lubin founded Consensys in 2015, and Consensys created Metamask in 2016. Consensys is a blockchain software technology company. It provides users different projects and services to use blockchain and its application.
ConsenSys has also been involved in other programs such as Infura, Quorum, Codefi, Truffle, diligence, and NFT platforms. It helps developers and people to create next-generation applications.
PayPal’s participation —
PayPal has been a leading digital money transacting application for over 20 years. Consensys has provided a way that users can use this feature in the Metamask app. It stated that users have to log in to the MetaMask mobile application. In the mobile application, users can select the buy button and have to select the PayPal option. Users can add a suitable amount worth of ETH to the wallet by selecting these options.
By applying this procedure, the MetaMask application redirects users to the PayPal logging page and users can easily buy or sell assets through this procedure.