Metamask users in the US can now buy crypto directly from their bank accounts. This will reduce the friction in buying crypto to a great extent. Metamask is already a leader in the software crypto wallet space, and making it easier for users to buy and manage crypto is only going to take them further ahead.
Metamask US users can now buy crypto directly
This has been made possible via a partnership between Sardine and CoinsenSYs. Sardine offers instant ACH settlements, while ConsenSys is a blockchain tech company. Their partnership will allow users in the US to connect bank accounts with Metamask and buy crypto directly. This is not only major development for Metamask but also Sardine, which recently had a Series B funding round led by big names like Visa, a16z, and Google Ventures.
Apart from this, instant ACH transfers are also a thing now in Metamask. First of all, the user needs to comply with the KYC process of Sardine, which Metamask also has to follow. Then users can purchase crypto up to $3000 in a day, $5,000 a week, and $25,000 monthly. The limits have been set to ensure scams and frauds are minimized.
This method of buying crypto directly from a bank account is expected to work much better as compared to using cards for payments. That’s because they are often declined by the bank. Plus, unlike regular ACH payments, Instant ACH is completed within minutes and also works during bank holidays.
Metamask brings more offerings
Metamask has introduced Portfolio Dapp, a tool that enables users to gather and keep track of their assets across several accounts and networks, including Ethereum, Optimism, BNB Smart Chain, Polygon, Fantom, Abritrum, and Avalanche. With the help of that functionality, Metamask was able to take on other market leaders in the cryptocurrency sector, like FTX, which provides comparable services through Blockcfolio, a wallet, and aggregator that FTX purchased in 2020.
The addition of the new custodians brings the total number to eleven and solidifies Metamask’s position as “the premier institutional wallet for Web3,” according to Liz Mathew, global head of growth and partnerships for MetaMask Institutional.
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