MetaMask, the largest self-custodial internet-connected wallet in the world with over 22 million users has added the option for users to convert cryptocurrencies into fiat currencies like USD.
Prior to this update, only ETH, the second-largest cryptocurrency in the world, could be converted using the cash-out feature into various fiats, depending on the user’s location.
Users would first select the country they are in, after choosing the amount to withdraw, clients will be presented with a list of third-party “off-ramp” service providers, such as Moonpay and Transact, which already support MetaMask’s cash-in, or as the crypto community like to refer to it, on-ramp procedure.
After determining the exchange rate, Moonpay will take control and transfer the ETH to users’ specified bank accounts.
The money will appear in the bank in a short period of time. Users may also withdraw funds to PayPal, which already works with MetaMask as a partner to support its on-ramp process.
The new update from MetaMask could hasten the adoption of the platform by the general public if the off-ramp option is simple and affordable enough for the typical user.
