MetaMask has significantly enhanced its fiat off-ramp capabilities, expanding support to over 10 blockchains through a new partnership.
The prominent self-custodial wallet, MetaMask, known for its role in the Ethereum ecosystem, now enables users to conveniently convert tokens into fiat on major blockchains, including BNB Chain, Arbitrum, Avalanche, Base, and Optimism.
Previously, users were required to swap tokens for ETH before converting to fiat, a process that proved inefficient and costly. The latest update streamlines this process, allowing for direct conversions.
“Expanding off-ramping capabilities removes barriers between crypto and traditional currency, allowing users to convert a broader range of tokens directly to cash,” a senior product manager at the company stated.
This expansion grants users across supported blockchains immediate access to off-ramping services, starting with ETH on Ethereum and Optimism, as well as BNB and Polygon (POL).
MetaMask’s off-ramp growth follows the initial rollout of support in September 2023, marking an increase in the number of countries served. Initially available only in the United Kingdom and European Union, the integration now allows access for users in over 100 countries in the upcoming months, building on its earlier on-ramping services launched in 2021.
“As a pioneering cryptowallet for many web3 users, MetaMask’s expanding user base demands a seamless way to transition between crypto and fiat. With the introduction of Transak Off-Ramp, this user journey is now complete,” a company executive commented.
As a leading self-custodial wallet, MetaMask continues to facilitate the onboarding experience for new users in the cryptocurrency sector. Enhancements in usability and partnerships aimed at expanding on and off-ramping services contribute to broader financial inclusion for unbanked populations in countries such as Brazil, Kenya, and Indonesia.
