Metamask users can now buy crypto directly from their bank accounts

With new capabilities that make it simpler for its users to buy cryptocurrency, software crypto wallet Metamask maintains its leadership position in the market for cryptocurrency wallets.

On October 13, Sardine, a platform for rapid ACH settlements, announced a collaboration with ConsenSys to enable users of Metamask in the United States to buy cryptocurrency using their bank accounts through the wallet’s user interface.

💡To fund your wallet, simply choose “Instant Bank Transfer” after selecting the BUY button in your home screen.

We don’t fox around so we’ve made it easy👇 pic.twitter.com/glt4eqm787

— MetaMask 🦊🫰 (@MetaMask) October 11, 2022

Metamask and its expansion partners

This would be the most recent relationship that Metamask had announced. Prior to this, the web wallet disclosed a partnership with Asset Reality to assist users in getting back their stolen cryptocurrency for free.

This agreement would add another accomplishment to Sardine’s roadmap. A16z, a venture capital firm that supports cryptocurrencies, led the team’s recent $51.5M Series B funding, which was also supported by Google Ventures and Visa, two of the biggest names in the sector. The blockchain technology firm ConsenSys also took part in the investment round for Sardine.

Users of Metamask must comply with Sardine’s required KYC process, which is accessible in 48 U.S. states, in order to use the new “Instant ACH” payments option.

Sardine set a purchase restriction of up to $3,000 per day, $5,000 per week, and $25,000 per month for more than 30 tokens to combat scams and electronic fraud.

In a formal announcement, ConsenSys, the company behind Metamask, claimed that the quick payment option made available by Sardine is more likely to succeed than the conventional payment system, where card payments are usually denied. The press release reads:

“Instant ACH allows orders to complete in minutes instead of days like a standard ACH order, and works on holidays, unlike regular ACH.”

The infrastructure provided by Sardine is used by numerous significant cryptocurrency startups, including FTX, MoonPay, and Autograph, amongst others.

Notably, Metamask recently introduced beta portfolio viewer to enhance Web3 experience, as TheCoinRise reported.