In a recent announcement, PayPal has unveiled a new integration to enhance accessibility to digital currencies within the United States.
The financial giant aims to simplify the process for wallets, dApps (decentralized applications), and NFT (non-fungible token) marketplaces to facilitate the buying and selling of cryptocurrencies through its PayPal On and Off Ramps integration.
With this integration, Web3 merchants can now use PayPal’s payment system, while harnessing security tools, including features for fraud management and chargebacks.
This integration comes after PayPal introduced On Ramps, allowing U.S. consumers to directly purchase cryptocurrencies using PayPal. These integrations began with Metamask and Ledger.
Now, PayPal is upping the ante by introducing Off Ramps. This addition enables crypto wallet users in the United States to effortlessly convert their digital assets into USD directly from their wallets, depositing the funds into their PayPal balance. This enables users to shop, send, save, or transfer funds to their bank or debit cards with ease.
The PayPal Off Ramps integration is already live on MetaMask, offering users the flexibility to manage their digital assets.
This move cements PayPal’s commitment to embracing the ever-evolving world of digital currencies and the Web3 ecosystem.
In a prior effort in December 2022, the company enabled MetaMask users to buy Ethereum using PayPal, following the submission of trademark applications for Web3-related purposes in October 2022.
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