Ramp, a fintech company that focuses on connecting cryptocurrency with traditional finance, has recently partnered with MetaMask, a popular non-custodial wallet. This partnership aims to integrate Ramp’s on-ramp services into MetaMask’s mobile application, granting over 100 million MetaMask users across 150 countries access to Ramp’s utility.
By bridging the gap between fiat and crypto spaces, Ramp allows users to transition seamlessly between the two. With the integration of Ramp’s services, users will be able to convert their cryptocurrencies into traditional fiat currencies, expanding the range of decentralized applications (dapps) available to MetaMask users.
The core reason behind this partnership, according to Ramp, is the evolution of web3 and global adoption. While tech enthusiasts and experienced individuals in the crypto space have no trouble accessing digital assets, the average user of financial services faces difficulties in entering the digital asset space. By integrating Ramp into MetaMask, this partnership aims to make web3 an integral part of the traditional finance landscape, bringing decentralized finance (defi) into the daily lives of financial service users.
Szymon Sypniewicz, the CEO at Ramp, expressed excitement about the collaboration, stating that the partnership between MetaMask and Ramp has accelerated the Web3 revolution. With Ramp’s strong presence in South America and its support for PIX instant payments in Brazil, the collaboration aims to onboard 100 million MetaMask users in over 150 countries and 40+ local currencies into web3 within seconds. This partnership also provides direct access to multiple Ethereum Layer-2 networks, further enhancing the accessibility of web3 for users.
MetaMask has been actively building a crypto-friendly ecosystem even before its partnership with Ramp. The introduction of the “Buy Crypto” feature in its Portfolio Dapp allows users to purchase cryptocurrencies directly with fiat currency, transferring them straight into their wallets. MetaMask also offers support for approximately 90 cryptocurrencies and numerous local payment methods, allowing users from 189 countries to participate. However, regional laws and regulations may impose limits on purchase amounts.
Lorenzo Santos, the Senior Product Manager at MetaMask, emphasized the importance of seamless and user-friendly on-ramps to bridge the gap between traditional and decentralized finance. The integration of Ramp Network is seen as a commitment to providing MetaMask users with an intuitive and frictionless experience as they explore the world of cryptocurrencies.
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In conclusion, the partnership between Ramp and MetaMask marks a significant milestone in the integration of cryptocurrency and traditional finance. With Ramp’s on-ramp services now available within the MetaMask mobile application, users have even more options to transition between fiat and crypto, ultimately driving the adoption of web3 and decentralized finance.
