MetaMask announced on Tuesday that they have introduced a bank-to-crypto payment option for US customers.
Takeaway Points
- MetaMask merges with Sardine introducing bank-to-crypto payment options for US customers.
- This will enable US customers to buy crypto with Sardine’s new ACH without settlement delays.
- This will be the first time a decentralized wallet brings traditional banking to its protocol.
Metamask’s Bank-to-Crypto Option
On Tuesday, MetaMask announced a merger with Sardine via their parent company, ConsenSys. This will enable US customers to buy crypto with their bank accounts. In the report, there are various payment options to fund your wallet and carry out other web3 transactions without leaving the wallet.
The Fintech company, Sardine, explained that any transactions made through their new automated clearing house(ACH) are secure, easy, and scalable. Bank payments, international remittances, virtual cards, and crypto payment options can be used without being hacked or worrying about fraud.
“Risk-free ACH/Card instant settlement to Wallets/Crypto/NFT. Our team built the fraud prevention and compliance infrastructure that scaled both Coinbase and Revolut. Now, you can build on our platform to stop payment fraud and increase customer conversion. ” Sardine said.
In a blog post, MetaMask commented on the merge, using the story of the fox and sardine to explain how their partnership will bring out the best in each other.
“A fox and a sardine walk into a bar and, yes, bring out the best in each other. Pumped to announce that US fox users can now buy crypto through @sardine! Sardine’s Instant ACH-to-crypto purchase allows you to enjoy your funds without waiting for days.” Metamask said.
Users can now buy crypto immediately with Sardine’s new ACH without settlement delays, and the process can be completed in minutes instead of days.
According to ConsenSys, the instant ACH allows the user higher limits of transactions than the normal card that has monetary limits and works on holidays, unlike the regular ACH.
Other Partnerships
Metamask has been working towards protecting its users from being hacked and from any form of fraud. They partnered with BitGo, Ocactus Custody, Floating Point Group, Cobo, GK8, Hex Trust, and other Web3 companies to provide security and improve trade flows.
Recently, MetaMask announced the launch of the MetaMask SDK in a blog post. According to them, you can connect to your wallet easily anywhere you are.
“We’d like to announce to the public beta launch of the Metamask SDK: a set of simple, reliable, and secure tools that make it easier to connect your Dapp to a Metamask wallet no matter the platform or environment.” They said
Metamask Extension
Metamask is an Ethereum-based wallet that allows users to access their crypto through a browser extension. The software, which was released in 2016 by Consensys, is one of the most used Ethereum wallets in the web3 space. The wallet can also store NFTs and other crypto-related items. The new bank integration is one of the company’s efforts to encourage mainstream extension and stay afloat during this bear market.
ACH-To-Crypto
Sardine is a platform in San Fransisco, built to prevent fraud and cyber attacks on fiat and crypto. It allows customers to transfer fiat through their ACH -to-crypto solution easier, faster, and without delay. Sardine prevented financial fraud of about US$ 51.5M within the digital payments and crypto industry.
