On Wednesday, December 14, Web3 ecosystem developer and blockchain engineering firm ConsenSys announced that they have joined hands with PayPal in a new way for users to purchase crypto in MetaMask.
This PayPal integration into MetaMask will provide a simple and convenient way for users to purchase crypto. For now, this facility is available only to select MetaMask users in the U.S. and shall roll out to all customers in the coming weeks.
This also makes MetaMask the first Web3 wallet to leverage PayPal and drive successful on-ramp transactions. Note that with the PayPal integration, MetaMask is currently allowing the purchase of only Ethereum (ETH).
MetaMask is a leading self-custody wallet quite popular among crypto users. It also allows millions of crypto enthusiasts to interact with other applications such as play and earn, NFT marketplaces, decentralized finance (DeFi) applications, and decentralized autonomous organizations (DAOs).
The crypto wallet service provider is now looking to expand and diversify the payment options via the MetaMask mobile app. Speaking on the development, Lorenzo Santos, Product Manager for MetaMask, added:
“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.”
Recently, MestaMask users expressed their displeasure over ConsenSys’ privacy policy. This happened after ConsenSys confirmed that they collect user data on their on-chain wallet service.
A day before, ConsenSys unveiled its zero-knowledge Ethereum Virtual Machine (zkEVM) network for private beta testing. This would allow developers to deploy and manage their decentralized applications directly using tools like MetaMask, Truffle and Infura.
This development will also help in bridging assets between zkEVM and the Goerli testnet for developers to test their smart contracts and DApps. Speaking on the development, ConsenSys said:
“Testnet participants can also bridge tokens, transfer tokens, and interact with deployed dApps listed on our upcoming ecosystem portal page. We intend to learn whether the developer experience of the zkEVM has the potential to accelerate innovation in Web3 and will be evaluating feedback from the community to inform our next step.”
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