MetaMask parent company Consensys has confirmed a partnership with payment provider Mercuryo to allow users to purchase crypto directly using their bank cards, and other local payment methods.
The hassle of identity verification on centralized exchanges has deterred many users with little crypto experience from on-ramping their fiat to crypto for use in decentralized finance (DeFi) services.
In efforts to streamline the on-ramp process, decentralized wallet provider ConsenSys announced on Feb. 16 that it has integrated with Mercuryo’s infrastructure to allow users to purchase crypto directly within the MetaMask wallet.
Direct crypto purchase in local currencies
MetaMask users can directly purchase up to 18 supported cryptocurrencies using bank cards, Apple Pay, Google Pay, and various local payment methods.
For a start, MetaMask said it would support up to 20 fiat currencies, including the US dollar, Euro, British Pound, South Korean won, and Nigerian Naira.
MetaMask Product Manager Lorenzo Santos said:
“Our integration with Mercuryo helps streamline onboarding and the process of acquiring digital assets, including the option to purchase up to €699 in crypto without complex identity verification.”
In a related development, MetaMask confirmed that it has integrated with Onramp.money to allow Indian MetaMask users to easily purchase cryptocurrencies.
The SEC vs. Paxos: A deep dive into the implications of the lawsuit and its effects on stablecoins
The SEC’s notice to Paxos to stop minting BUSD could have longstanding implications on the crypto market. CryptoSlate’s new report explores the recent and potential consequences of enforcement action against Paxos.
