Cryptocurrency adoption just took a big step forward with the announcement that MetaMask wallet has partnered with PayPal. The collaboration will enable PayPal customers to buy ETH -1.70%-news/">Ether (ETH) directly through the popular digital wallet.
This is a major development for the crypto community as it allows users to easily and securely purchase ETH without having to go through a third-party exchange. The move is also a significant endorsement of the Ethereum blockchain from a major financial institution like PayPal.
“We’re thrilled to partner with MetaMask to offer our customers the ability to easily and securely purchase ETH,” said John Donahoe, CEO of PayPal. “Cryptocurrency has the potential to greatly improve the way we transact and we’re committed to supporting its growth and adoption.”
The integration will take place over the next few months and will be available to PayPal customers in select countries. Users will be able to purchase ETH directly from their PayPal account and store it in their MetaMask wallet.
MetaMask, which has been downloaded over 1 million times, is a browser extension that allows users to securely manage their Ethereum accounts and interact with the Ethereum blockchain.
“This partnership is a huge step forward for crypto adoption,” said Dan Finlay, Co-founder of MetaMask. “By making it easy for PayPal customers to buy ETH, we’re giving them the ability to participate in the growing world of decentralized finance and web3 applications.”
The partnership comes as crypto adoption continues to gain momentum, with more and more institutions and businesses jumping on board. Earlier this year, Visa announced that it would be allowing the use of the USDC stablecoin on its network, and Binance recently launched a credit card that allows users to spend their crypto assets directly.
With the support of major players like PayPal and Visa, it’s clear that cryptocurrency is becoming a mainstream option for transactions and payments. The MetaMask and PayPal partnership is sure to accelerate this trend and make it even easier for users to get involved in the world of crypto.
