MetaMask Brings Fiat-to-Crypto Ramp To Portfolio dApp
Users can access the new feature by connecting their wallets to the Portfolio dApp or clicking the "Buy" button within the MetaMask extension wallet. After selecting their region, payment method, preferred token, and network, they receive a personalized quote based on local regulations.
ConsenSys-backed decentralized wallet firm MetaMask has unveiled a new fiat-to-crypto ramp within its Portfolio dApp. The feature streamlines the process of acquiring digital assets using traditional currencies, facilitating seamless interactions and expanding its market reach.
MetaMask took to Twitter to share the news, highlighting the "simple and smooth" purchasing process now available to users through the Portfolio dApp.
The "Buy Crypto" function supports a variety of payment methods, including debit and credit cards, PayPal, bank transfers, and instant ACH transactions. It provides access to more than 90 tokens across eight networks such as Ethereum, Polygon, Arbitrum, BNB Smart Chain, Avalanche Contract Chain, Fantom, Optimis, and Celo. The new feature is the product of over a year of collaboration with PayPal, MoonPay, Sardine, Banxa, Onramp.money, Mercuryo, and Transak, as stated by MetaMask.
MetaMask has a history of partnering with various platforms and organizations to attract new users. In 2022, the company collaborated with PayPal, enabling MetaMask users to purchase and transfer Ether (ETH) via the PayPal platform. The same year, it started exploring on-ramp user functionalities through banks.
In March 2023, MetaMask announced an integration with crypto fintech provider MoonPay, allowing Nigerian users to buy crypto via instant bank transfers. The company also integrated with Unity for Web3 and initiated a Web3 education campaign through its Learn program.
Users can access the new feature by connecting their wallets to the Portfolio dApp or clicking the "Buy" button within the MetaMask extension wallet. After selecting their region, payment method, preferred token, and network, they receive a personalized quote based on local regulations. To finalize the transaction, users are directed to a third-party provider's website, and the funds are subsequently deposited into their MetaMask wallet.
