July 10, 2024
PayPal's "Off Ramp" Service Goes Live on MetaMask for American Users
Latest Cryptocurrency News

PayPal’s “Off Ramp” Service Goes Live on MetaMask for American Users

Payment processor PayPal has introduced a new off-ramp service to enable users to transfer cryptocurrency tokens straight from wallets into PayPal accounts to expand its portfolio of crypto products.

The global leader in payments revealed on Monday that its latest “Off Ramp” service is “live on MetaMask today” for American consumers and is open to “wallets, dApps, and NFT marketplaces.”

PayPal stated via a news statement that cryptocurrency users can benefit from the firm’s “robust security controls and tools for fraud management, chargebacks, and disputes.”

Only Americans are presently able to use the Off Ramp service.

Following the launch last week of a feature allowing users to exchange their digital assets for fiat money and transfer it to a bank account or PayPal account, PayPal has now made the announcement.

Bitcoin, Ethereum, Bitcoin Cash, and Litecoin are the four cryptocurrencies that PayPal users can buy, sell, and keep. PayPal initially introduced its cryptocurrency offering in late 2020.

Since then, the company has increased the scope of its offerings by adding cryptocurrency transfers and, lately, fiat on and off ramps.

According to today’s press release, PayPal introduced crypto On Ramp integration last month, allowing direct crypto purchases with MetaMask and Ledger, “with more coming soon,” indicating partnerships with further wallet providers.

In addition to MetaMask, the company has listed Phantom, Ledger, and Magic as crypto wallet providers on its website, indicating potential On and Off Ramps connections in the future.

To compete with the native crypto stablecoins, the payment platform also just unveiled PYUSD, its own stablecoin.

Image: Wallpapers.com

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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