According to a press release, the partnership between the payments firm and MetaMask developer ConsenSys is intended to enable users to select their PayPal accounts as a payment option to buy ether (ETH) from within the MetaMask app. The offering is designed to facilitate seamless purchases and transfers of ether from PayPal to MetaMask.
MetaMask intends the offering to help bring more users into the Web3 ecosystem at a time when the sector is looking for a way forward during the crypto winter.
"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," said ConsenSys product manager Lorenzo Santos in the press release.
Select U.S. customers can access the new offering beginning today as PayPal works to roll out the service to the rest of its U.S. customers over the next few weeks.
The launch follows PayPal's push to enable crypto transfers between its own platform and several popular crypto exchanges in June. The fintech company debuted its crypto purchase, sell and hold service in October 2020.