MetaMask, a decentralized wallet firm backed by ConsenSys, has announced the launch of a new fiat-to-crypto ramp for its Portfolio dApp.
The new function will enable users to acquire crypto straight from fiat currencies without leaving portfolio. As a direct solution, the new functionality aims to simplify the process of purchasing digital assets with traditional currencies, opening new interactions and broadening its markets.
We foxes at MetaMask 🦊 are excited to announce that our Buy Crypto feature now also resides in our Portfolio Dapp, providing a simple and smooth purchasing journey👌
🔗https://t.co/sEcCnQhbRB pic.twitter.com/UvaG2wMSpy
— MetaMask 🦊💙 (@MetaMask) April 10, 2023
, this latest feature on the Portfolio dApp from MetaMask was the result of over a year of collaboration with PayPal, MoonPay, Sardine, Banxa, Onramp.money, Mercuryo, and Transak.
MetaMask has a well-documented history of collaborating with and to bring new users to its fold. In 2022, the company , enabling MetaMask users to purchase and transfer Ether (ETH) via PayPal’s platform. In the same year, MetaMask began exploring methods for on-ramp .
More recently, in March 2023, MetaMask announced an integration with crypto fintech provider MoonPay, allowing Nigerian users to buy crypto through instant bank transfers. It also has integrations with , as well as an ongoing Web3 with its Learn program.
To take advantage of this feature, users need only connect their wallets to the or click the “Buy” button within the MetaMask extension wallet. After selecting their region, payment method, and desired token and network, users receive a customized quote based on their location and local regulations. To complete the transaction, they are redirected to a third-party provider’s website, and the funds are subsequently deposited into their MetaMask wallet.