MetaMask, the crypto wallet by ConsenSys that’s become a go-to for many, has launched a new feature that allows 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 payment options for its users, MetaMask now allows its U.S.-based users to buy cryptocurrencies directly from their bank accounts with no settlement delays.
This feature is made possible via a partnership between ConsenSys and the instant ACH settlement merchant Sardine. Three weeks ago, Sardine completed a $51.5 million Series B funding round featuring Visa (NYSE:V), a16z, and Google (NASDAQ:GOOGL) Ventures.
MetaMask Users Get 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 cards.
U.S.-based users using this feature to buy crypto can purchase crypto up to $3000 in a day, $5,000 a week, and $25,000 monthly. According to MetaMask, these limits were set to ensure scams and frauds are minimized.
In addition, users should know that using this payment option means they need to comply with the KYC process of Sardine, which Metamask also has to follow. The option is available for over 30 cryptos and would be expanded as MetaMask lists more.
On the Flipside
- Zerion, a Web3 investing tool and crypto wallet provider, has completed a $12.3 million funding round and it plans to use it to challenge the dominance of MetaMask.
Why You Should Care
By making it easier for users to buy and manage crypto, MetaMask looks 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
MetaMask’s social expansion is covered in:
MetaMask Integration Unlocks Decentralized Social for Millions of Ethereum Users