Two of the industry’s biggest names are collaborating to make purchasing cryptocurrencies even easier. According to the news, PayPal is collaborating with cryptocurrency wallet MetaMask to develop a new and more efficient cryptocurrency purchasing experience.
Per the announcement, the two entities are looking into different options for users to transfer their digital assets. The two companies announced their collaboration today in a press release, according to the news.
The collaboration between PayPal and MetaMask is fantastic news for users looking for a simpler way to purchase cryptocurrencies. The collaboration was formed with the intention of supporting a simpler and more mainstream approach for PayPal users who want to enter the industry.
According to the press release, MetaMask developer ConsenSys plans to allow users to choose PayPal as a payment option when purchasing Ethereum through the MetaMask platform. Furthermore, this advancement incorporates a seamless transfer of digital assets between the two platforms.
The application has features that are similar to those found on popular platforms such as Etsy and eBay. Furthermore, this replicates the checkout feature, which allows customers to pay with their PayPal account. The same will now be true when purchasing cryptocurrency through MetaMask.
Lorenzo Santos, MetaMask product manager, stated that this development will benefit customers by introducing them to Web3. “With this integration with PayPal, our US users will be able to not only buy cryptocurrency seamlessly through MetaMask, but also easily explore the Web3 ecosystem,” Santos explained.
The development represents yet another moment of acceptance for PayPal and cryptocurrency. The collaboration continues the integration of digital assets, which has been a focus of the financial firm since 2020.