ConsenSys, a blockchain technology company announced that it has already started the process of integrating Paypal into its MetaMask wallet so that users can easily buy Ethereum using Paypal. This comes shortly after a court ruling in Switzerland.
The news was announced by Fintech Times. The company says that the connection is another brilliant collaboration in the online sector because it will allow US users to buy crypto through MetaMask and explore different options in the Web3 space. This is the company’s latest effort to improve and expand the payment methods available to MetaMask users.
The announcement said that only a few US customers can access this new feature right now. The rollout to all eligible US customers, however, should happen in the coming weeks. It is worth mentioning that MetaMask will be the first Web3 wallet to use PayPal to facilitate ongoing transactions.
MetaMask has previously released a beta version of Portfolio Checkout that will allow users to link their assets from multiple networks and accounts.
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ConsenSys and the Swiss Courts
ConsenSys’ announcement comes after a court ruling in Switzerland. The report provided an overview of the incident at ConsenSys that led to the Swiss court’s decision. It was revealed that ConsenSys signed and executed a Sales and Contribution Agreement (SCA) in 2020.
This SCA transferred a number of assets from ConsenSys AG to the newly formed company, ConsenSys Software Inc. According to the agreement, these assets include Metamask, Infura, Truffle, Codefi, Pegasys and many other local companies.
However, the shareholders say that the SCA was done on a whim. On November 16, 2022, a judge from the Cantonal Court of Zug in Switzerland ruled against the majority of stakeholders. The meeting is asking for a vote to accept the transaction or not.
This is not the first time Consensys has had problems, the company has been accused of stealing customers’ IP addresses. However, the company said that only the language has been changed with the wallet upgrade.