Through this partnership, MetaMask users will be able to purchase crypto tokens with cards, Apple Pay, and various bank transfer methods without having to rely on mainstream exchanges. The goal is to streamline cryptocurrency purchasing by leveraging instant checkouts and an easier user onboarding experience.
Apart from appealing to users who are new to crypto, the partnership could also benefit experienced users who are looking for a way to restock their portfolio. The integration will allow MetaMask users to purchase tokens and coins using fiat currencies such as EUR, USD, GBP, TRY, JPY, BRL, NGN, VND, MXN, KRW, PLN, SEK, CHF, CAD, CZK, DKK, BGN, HKD, and AUD.
Supported cryptocurrencies include Ethereum, Basic Attention Token, Tether, OKB, Dai, Toncoin, Binance coin, Binance USD, 1inch token, Avalanche, USDC, Fantom, Dogecoin, Decentraland, The Sandbox, Curve DAO Tokenm, and DYDX. According to the official press release, purchasing crypto can be time-consuming, as it requires identity verification and clearing banking details. Mercuryo’s integration with MetaMask will allow users to purchase up to EUR 699 in crypto in five steps without requiring full identity verification.
To purchase crypto on MetaMask, users need to log in to the app, tap on ‘Buy’ and select the payment method. The next steps involve inputting the desired amount and token, as well as reviewing quotes and choosing one from Mercuryo. The transaction can be completed by following the link to the Mercuryo website.
MetaMask officials talked about their partnership with Mercuryo in the official press release and emphasised how it can help their users to explore the Web3 ecosystem, including NFT marketplaces, as well as metaverse worlds, decentralized finance (DeFi) applications, decentralized autonomous organizations (DAOs), and play-and-earn games.
In February 2023, MetaMask partnered with payment service provider and regtech platform Banxa in order to simplify cryptocurrency purchasing.
The collaboration enables MetaMask users in Canada, Turkey, the Netherlands, Australia, and South Africa to benefit from a simpler on-and-off ramping fiat to crypto experience. Moreover, users gain the ability to purchase crypto through the interbank network Interac, while also receiving access to Banxa’s crypto on-ramps through local banking infrastructure.
The integration comes in the context of recent disruptions in the crypto market, which have caused an increased demand for self-custody wallet solutions. Banxa incorporates a network of compliant local payment solutions that support transfers across the Web3 ecosystem. These solutions also maintain high local alternative payment method (APM) conversion rates while facilitating lower fees from local processing.
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