US-based users of MetaMask will be able to purchase Ethereum from within the PayPal app after PayPal partnered with Web3 firm ConsenSys.
MetaMask, a self-custodial wallet, is a way for users to interact with applications that include NFT marketplaces, play and earn games, DAOs, DeFi applications, and metaverse worlds.
According to Finextra, this announcement will make MetaMask the first Web 3.0 wallet to utilise PayPal to increase on-ramp transactions.
This new functionality is available to selected users in the US now and will roll out to all eligible US customers in the coming weeks.
MetaMask product manager Lorenzo Santos said, “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.”
Earlier this year, searches for ‘delete PayPal’ exploded by 1,392%, following the announcement of its $2,500 fine for spreading misinformation.
The study, which was conducted by Financial World, also found that searches for ‘cancel PayPal’ also spiked.
This rise in searches comes after the firm made a policy update that claimed customers could face fines of $2,500 for sending, posting or publishing content that promoted misinformation, it said.
However, PayPal told Reuters it will not fine users for misinformation and the policy update was sent in error.
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