Metamask To Let U.S Users Buy Crypto Directly From Their Bank Accounts
As a result of its connection with ACH, Metamask users in the United States will now have a simpler method to buy cryptocurrency.
Metamask continues its pursuit of leadership in the cryptocurrency wallet business by introducing new capabilities that make it simpler for its customers to acquire cryptocurrencies.
On October 13, Sardine, a financial platform that provides rapid ACH settlements, announced a cooperation with ConsenSys to enable Metamask customers in the United States to acquire cryptocurrency using their bank accounts through the wallet’s user interface.
?To fund your wallet, simply choose “Instant Bank Transfer” after selecting the BUY button in your home screen.
This would be the most recent relationship that Metamask has announced. Prior to this update, the online wallet disclosed a partnership with Asset Reality to assist customers in recovering stolen cryptocurrency for free.
This alliance would be another accomplishment for Sardine on its journey plan. Recently, the team secured $51.5M in Series B investment, headed by the crypto-friendly venture capital company a16z and supported by Visa and Google Ventures, among others.
ConsenSys, the blockchain technology startup that developed Metamask, joined in the financing round for Sardine.
Metamask Permits Instant ACH Transfers in the U.S
Metamask customers must comply with Sardine’s obligatory KYC procedure, which is accessible in 48 U.S. states, to utilise the new “Instant ACH” payment option. Soon, Hawaii and New York will be accepted.
In order to fight scams and electronic fraud, Sardine imposed purchase limits of up to $3,000 per day, $5,000 per week, and $25,000 per month for more than 30 tokens, which were not revealed in the press announcement.
ConsenSys said in an official press statement that the immediate payment mechanism provided by Sardine is more likely to function than the conventional payment system, where card payments are often denied.
“Instant ACH allows orders to complete in minutes instead of days like a standard ACH order, and works on holidays, unlike regular ACH.”
The infrastructure of Sardine is used by prominent cryptocurrency startups such FTX, MoonPay, and Autograph, among others.
Metamask Increases Its Domains
According to a recent post by CryptoPotato, Metamask has announced the debut of Portfolio Dapp, a platform that allows users to combine and manage their assets across numerous accounts and networks, including Ethereum, Optimism, BNB Smart Chain, Polygon, Fantom, Abritrum, and Avalanche.
This functionality enabled Metamask to compete with crypto industry titans like as FTX, which provides comparable services through Blockcfolio, a wallet and aggregator it bought in 2020.
In addition, at the end of September, Metamask unveiled a new tool dubbed MetaMask Institutional (MMI), a version of the wallet intended to suit the requirements of institutional players experimenting with Web3 and decentralised finance (DeFi).
According to Liz Mathew, Global Head of Growth and Partnerships for MetaMask Institutional, the addition of the new custodians (Cobo, Floating Point Group, Liminal, and Propine) brings the total number of custodians supported by Metamask Institutional to eleven, thereby reinforcing Metamask’s position as “the premier institutional wallet for Web3.”
