PAYPAL TEAMS WITH METAMASK TO OFFER ETH PAYMENTS
Purchasing and transacting with Ethereum just got easier for U.S. citizens, thanks to a new rollout of Paypal payment options in the popular Metamask self-custody crypto wallet.
Metamask already has integrations with payment services including Coinbase Pay, MoonPay, Sardine and others.
But the new integration is significant, since PayPal ranks first in the payments processing market in the U.S., holding 48.26 percent of the market share, according to Datanyze.
Paypal and Metamask had announced the intention to work together in 2022.
Twitter users greeted the rollout with generally positive comments this past Friday, though some were also reporting glitches with the new PayPal integration.
The rollout comes just a few weeks after MetaMask launched a Portfolio DApp feature that empowers users to buy bitcoin and other popular cryptos, using debit and credit cards, and bank transfers, as reported by Cointelegraph.com. (“MetaMask rolls out ETH purchases via PayPal to US users,” 11 May 2023.)
That service supports over 90 cryptocurrencies over eight networks, including Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche, Fantom, Optimis, and Celo, in 189 countries. Each purchase is quoted based on the user’s location and local legislation.
BINANCE QUITS CANADA
Canadian exchange options just took a huge hit.
Citing Canadian regulations that went into effect in February, Binance, the world’s largest centralized crypto exchange, has announced it is withdrawing its service in that country.
In a statement, the company explained:
“Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time. We put off this decision as long as we could to explore other reasonable avenues to protect our Canadian users, but it has become apparent that there are none.”
Among the new Canadian crypto regulations considered too onerous to deal with, were provisions forbidding companies from “allowing Canadian clients to enter into crypto contracts to buy and sell any crypto asset that is itself a security and/or a derivative.”
The regulations effectively classed stablecoins as securities.
Currently, Canada lists 11 crypto platforms, including Coinbase and Kraken, as “Authorized to Do Business with Canadians.”
Binance left the door open to returning to Canada in the future if the regulatory environment became less restrictive:
“We are confident that we will someday return to the market when Canadian users once again have the freedom to access a broader suite of digital assets.”
Many on Twitter criticized Canada for its increasingly anti-crypto stance, and predicted the country would lose out on innovation.
One crypto enthusiast, Pepe, commented:
Canada has been disintegrating itself for a long time, as has the United States with measures to control its population.
The policies in both places are terrible, and they intend to have everyone under control like children.
You don’t have to build where your bricks don’t want them 🧱
“If I perceive myself as a bird, the Canadian State, instead of taking me to a psychiatric hospital, will require all citizens to give me birdseed”