PayPal and MetaMask join forces to make it easier to buy crypto

ConsenSys, the parent company of MetaMask, has announced the upcoming integration of the Paypal payment service on its crypto-currency wallet.

Mobile users with a digital wallet on MetaMask will be able to purchase Ether (ETH) through their PayPal account.
MetaMask is one of the most popular online crypto wallets. It allows its users to store crypto assets and buy NFTs and pay online in web worlds3, and can be used as an authentication method.
Using a PayPal account also reduces the time spent on KYC (Know Your Customer), a procedure used by financial services companies to verify the identity of their customers. From now on, a simple account creation on PayPal will be enough to make a purchase.
This feature is only available to a limited number of American users, but will soon be rolled out nationwide.
An extension to other countries has not yet been announced by ConsenSys.

Fulfilling Paypal's crypto ambitions: PayPal is no longer hiding its desire to enter the cryptocurrency market. After withdrawing from the Libra project, launched by Facebook in 2019, PayPal has continued to invest in projects related to decentralised finance, following the example of the purchase of the Israeli start-up Curv in 2021.
Bringing traditional and decentralised finance together: With 430 million PayPal accounts worldwide, Metamask users will be able to fund their accounts easily through PayPal. Especially if these users already have Ethereum in their PayPal account. And this will generate revenue for PayPal, as the company charges a fee to buy crypto-currencies. This is PayPal's first integration as a ramp provider for a web wallet3.

Recently, a developer had found remnants of hidden code in PayPal's iPhone application, casting doubt on the creation of a PayPal coin. The collaboration with MetaMask marks PayPal's first integration as a cryptocurrency wallet provider.
Payments giant Visa has announced that it will enter the field of programmable payments with a solution that allows its users to rely on smart contracts to pay bills at a later date in a fully automated manner. Visa says it came up with the feature as a result of its Crypto Hackathon Challenge in 2022.

Category : Alertes quotidiennes