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MetaMask goes mainstream, integrates with PayPal
PayPal welcomed "the fox" to its ecosystem. Now the users of the popular MetaMask Web3 wallet can buy Ethereum via PayPal.
MetaMask wants its users, especially those new to cryptocurrency, to be able to buy crypto seamlessly through their mobile app and easily explore the Web3 ecosystem.
Things to Note:
The feature is now available only to selected users in the United States.
MetaMask plans to slowly roll out it to all U.S. users "in the coming weeks."
PayPal integration will only be available through the MetaMask mobile app.
PayPal integration will be available on MetaMask's desktop browser extension "in the next quarter." (They currently have CoinbasePay, Transak, MoonPay, and Wyre on Desktop).
MetaMask's 1% service fee will apply to all purchases + applicable PayPal fees. ( no word on Apple's huge in-app fees yet).
MetaMask currently only allows the purchase of Ethereum (no surprise).
PayPal in crypto:
PayPal started its crypto journey in 2020 by giving customers the ability to buy, hold, and sell cryptocurrency on its platform.
The company then launched "Checkout with Crypto" in March 2021, which enabled customers in the United States to use their cryptocurrency balances to pay for online purchases - The feature supported Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.
In June, the company also allowed its customers to transfer any cryptocurrency purchased through PayPal to other wallets or exchanges.
G20 aims to establish a global consensus on crypto policy
Ajay Seth, the federal economic affairs secretary for India, stated that the Group of 20 (G20) nations are working to develop a policy consensus on crypto assets to inform better global regulation. The organisation, which consists of 19 countries and the EU, accounts for almost 85% of the world's GDP.
Holding the G20 presidency, India will host the first gathering of the Group's finance and central bank representatives.
Seth stated at a news conference on the second day of the event that research should be done to understand the effects of crypto assets on the economy, monetary policy, and the financial industry.
Following what has been called "one of the largest frauds in American history," the collapse of the FTX cryptocurrency exchange has made regulators realise how urgent it is to regulate the crypto industry.
WisdomTree launches nine new blockchain-enabled funds.
Nine new blockchain-enabled funds have been introduced by the New York-based asset management Wisdom tree, which holds up to $82 billion in assets. The WisdomTrees digital wallet is scheduled to debut in the first quarter of 2023, but these nine funds are already in effect with the U.S. SEC.
The WisdomTree Short-Term Treasury Digital Fund, the company's first digital fund, received SEC clearance three months before this approval.
In 2022 and 2021, WisdomTree tried to list a bitcoin spot ETF, but the SEC rejected both plans due to insufficient safeguards against fraud and market manipulation.
"We believe that blockchain-enabled finance has the potential to improve the investor experience through enhanced liquidity, transparency and standardization, which we aim to achieve over time," said Will Peck, WisdomTree's head of digital assets.