According to a recent report, Metamask users can now buy crypto with fiat currencies directly from their digital wallets. As the crypto ecosystem struggles to overcome an uptick in enforcement actions from regulators and a pullback in engagement from banking institutions, this is positive news for crypto fans.
Metamask users can buy crypto with fiat currencies
ConsenSys, a lead ETH and decentralised protocols software company, announced a new partnership with Mercuryo, a lead crypto payment company. Mercuryo’s payment system will be integrated with MetaMask, allowing MetaMask users to buy crypto tokens with bank cards, Apple Pay, and bank transfer methods directly from their wallets.
The integration will allow users to bypass the need to engage with the centralised exchange and operate fully in decentralised finance, also known as DeFI. This would help users to simplify the purchase of digital assets with instant checkout and easier user onboarding.
Lorenzo Santos, Product Manager for MetaMask, said their integration with Mercuryo will help streamline onboarding and acquiring digital assets without complex identity verification. He added that it would allow their users to seamlessly explore the WEB3 ecosystem, including NFT, play-to-earn games, decentralised autonomous organisations, DeFI applications and metaverse worlds.
The partnership targets users with little to no experience in crypto as most experienced users are well versed in navigation between Defi and CeFi and bills itself as an easy way for MetaMask users to buy popular crypto tokens and coins with one of its more than two dozen support fiat currencies. Some support currencies include US dollars, Euro, British pounds, Turkish Lira, Mexican peso and many more.
MetaMask offers 18 cryptocurrencies
As you know, Meta mask users can now buy crypto with fiat currencies directly from their digital wallets. There are currently 18 cryptocurrencies supported by Mercuryo including ETH, Basic Attention Token, USD coin, DAI, USDT, AVX, MATIC and some others. Utilising Mercuryo’s onramp will allow Metamask users to purchase up to 699 euros in a few simple steps without needing to do a full identity verification.
Petr Kozyakov, CEO of Mercuryo, said that collaborations with market leaders like MetaMask are an exciting opportunity for Mercuryo to help more people experience cryptocurrencies in the easiest way possible. He added that instead of opening a new account at one of the exchanges, users could manage their digital assets on a single platform.
What are your thoughts on the new MetaMask update, which will enable their users to buy crypto using fiat currency directly from their wallets? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.