MetaMask, the crypto wallet by ConsenSys that’s become a go-to for many, has launched a new feature that enables users in the United States to buy crypto directly from their bank accounts.
U.S. Users to Buy Crypto from Bank Accounts
In an effort to diversify payments options for its users, MetaMask now allows U.S.-based users to buy cryptocurrencies directly from their bank accounts with zero settlement delays.
This feature was made possible thanks to a partnership between ConsenSys and instant ACH settlement merchant Sardine. Three weeks ago, Sardine completed a $51.5 million Series B funding round featuring Visa, a16z, and Google Ventures.
MetaMask Users Gain Instant ACH
Unlike standard ACH (Automated Clearing House) providers, Sardine’s instant ACH settlement is completed within minutes, and also works during bank holidays. Instant ACH also allows higher limits than typically provided on cards.Â
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U.S. users are able to take advantage of the feature to purchase up to $3,000 worth of crypto in a single day, $5,000 in a week, and $25,000 monthly. According to MetaMask, these limits were set to ensure that the risk of scams and fraud is minimized.
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Of particular note is that users are required to comply with Sardine’s KYC processes in order to access the feature. MetaMask itself also follows these guidelines. Over 30 cryptos can be accessed with the new service, and availability could expand as MetaMask lists additional assets.
On the Flipside
- Zerion, a Web 3.0 investment tool and crypto wallet provider, has completed a $12.3 million funding round, which it plans to use it to challenge the dominance of MetaMask.Â
Why You Should Care
By making it easier for users to buy and manage crypto, MetaMask is looking to bolster its dominance in the software crypto wallet space.
Find out other new features available on MetaMask in:
MetaMask Launches New All-In-One Digital Asset Portfolio dApp
Read out MetaMask’s social expansion in:
MetaMask Integration Unlocks Decentralized Social for Millions of Ethereum Users
