PayPal, the global payment giant, is expanding its digital asset services by including new means to sell cryptocurrencies such as Bitcoin (BTC).

On September 11, PayPal launched new Web3 payment on- and off-ramps, allowing customers in the United States to convert their crypto to US dollars directly from their wallets into their PayPal balance.

According to the release, the PayPal off-ramp capability is now live on MetaMask and is immediately available to wallets, decentralized applications, and nonfungible token exchanges.

The new features are built to allow customers to buy and sell multiple cryptocurrencies in the United States.

“Once integrated, web3 merchants can help grow their user base by connecting to PayPal’s fast and seamless payments experience trusted by millions, while leveraging PayPal’s robust security controls and tools for fraud management, chargebacks and disputes,” PayPal stated.

In a YouTube video showcasing PayPal's on- and off-ramp features, a snapshot from the UI shows a customer moving 0.0015 BTC ($50) to an external wallet with a $5 network fee and a $2.19 transaction cost. The wallet utilized for the transaction is not specified in the video.

It should be noted that BTC transactions on the original Bitcoin blockchain are not supported by MetaMask.

Sources:

https://cointelegraph.com/news/paypal-enables-users-to-sell-crypto-via-metamask

https://newsroom.paypal-corp.com/2023-09-11-PayPal-Introduces-On-and-Off-Ramps-for-Web3-Payments