MetaMask, one of the leading cryptocurrency wallets, has announced a new feature that will allow users to buy cryptocurrencies using fiat currency directly from their wallets. The feature, which is part of the MetaMask Portfolio application, currently supports the purchase of around 90 different cryptocurrencies using local payment methods.
According to MetaMask’s team, the service is available in 189 countries and users will have minimum purchase requirements depending on their location. For example, users in Singapore will need to purchase a minimum of 40 SGD when paying with their local currency, while the minimum purchase requirement for USD payments is $25. The feature is also available on the MetaMask browser extension and supports eight different networks, including Ethereum, Polygon, BNB Chain, and Celo.
MetaMask has stated that it aims to provide users with the best prices when purchasing cryptocurrencies, and the new feature will offer multiple options through different providers. Users can pay using debit and credit cards, bank transfers, PayPal, and ACH transfers, with more payment options expected to be added in the future.
MetaMask was launched in 2016 and is the flagship product of ConsenSys, a blockchain software development company. To date, ConsenSys has raised over $726 million in funding from investors such as JP Morgan, Softbank, and Microsoft, and recently launched Linea, a layer 2 blockchain that uses zkEVM technology.
The new feature from MetaMask represents a significant development for the cryptocurrency industry, as it makes it easier for users to purchase cryptocurrencies using traditional payment methods. It also reinforces MetaMask’s position as a leading player in the industry, as it continues to innovate and offer new features to its users.
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