MetaMask Simplifies Buying Capabilities Even Further
MetaMask wallet users can now reportedly convert their ETH holdings into fiat currency with a simple button press. Supported fiat currencies currently include US dollars, Euros, and British Pounds Sterling.
At the outset, this cash-out option is available for ETH on the Ethereum mainnet, with MetaMask having intentions to expand to other layer-2 networks and assets in the future. The specific layer-2 networks and tokens they plan to support and the timeline for this expansion were not disclosed.
Users in the US, the UK, and certain parts of Europe can now transfer the proceeds from their ETH sale to a linked PayPal account or bank account. MetaMask is collaborating with four known crypto-fiat off-ramps, namely MoonPay, Transak, Sardine, and Banxa. These services will provide real-time quotes for users interested in selling ether.
Moreover, once a user selects their preferred provider, they will be directed to the website of the provider, where they will need to establish a connection with their bank account. After the transaction is confirmed within the corresponding MetaMask wallet, funds will become available in the linked account within a few days.
MetaMask has been steadily expanding its platform over recent months. One of its recent additions is a swaps feature that consolidates token prices various decentralized exchanges, enabling users to trade tokens seamlessly. However, MetaMask is not exclusively targeting retail customers lately. In March, it launched a new platform catering to companies and institutions interested in staking on Ethereum after the Merge.
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