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MetaMask launches a service to buy cryptocurrencies in fiat currencies

by Patricia

Buy cryptocurrencies in euro, from MetaMask. It’s now possible, via the decentralized Portfolio Dapp application. Users in 189 countries will now be able to use their local currency to make crypto asset purchases.

The new fiat-crypto service from MetaMask

Announced yesterday, the “Buy Crypto” service will allow users to access 90 crypto-currencies, simply by connecting their MetaMask wallet.

Eight networks are compatible with this new feature: Ethereum, Polygon, Optimism, Arbitrum, Binance Smart Chain, Avalanche Contract Chain, Fantom and Celo. Residents of 189 countries can benefit, but not all in the same way. There are purchase limits per country, which correspond to the local regulations.

Payment methods include debit/credit cards, bank transfers, PayPal and ACH transfers.

Users are invited to select the cryptocurrency of their choice, and then the Buy Crypto service presents them with offers from partners. They are then directed to a third-party site to finalize the purchase. The transaction is therefore not processed by MetaMask, which merely acts as an intermediary.

MetaMask extends its services

MetaMask seems determined to expand the way it can capture new users in recent months. Last year, the service offered Ether (ETH) purchase and transfer with PayPal. Last March, a partnership with MoonPay allowed Nigerian users to access purchases via instant bank transfers.

It’s not just the purchase options that are diversifying at MetaMask. Last March, MetaMask Institutional unveiled a new marketplace dedicated to staking, and aimed at institutional customers. The brand with the fox intends to tackle more varied areas of cryptocurrencies.

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