Crypto
Ramp Network, the financial technology company building payment rails connecting crypto to the global financial system, is expanding its long-standing partnership with MetaMask. Today, MetaMask users around the world gain the ability to sell ETH tokens they hold on Ethereum Layer-2 networks directly for cash, with support for more than 35 fiat currencies.
The addition of Ethereum L2 offramps ensures MetaMask users benefit from a faster, simpler, and, most importantly, more cost-effective cashout experience, converting their ETH crypto to cash directly from their wallet, in seconds. At launch, Ramp Network supports ETH offramps for L2 networks including, Optimism, Polygon, BNB Chain, and more.
“With Ramp Network, MetaMask users can now effortlessly withdraw their funds and engage with crypto across their preferred networks, enhancing convenience and accessibility,” said Lorenzo Santos, Senior Product Manager at Consensys.
Szymon Sypniewicz, CEO at Ramp Network, commented: “We’re thrilled to deepen our partnership with MetaMask by introducing direct Layer-2 cashouts. Layer-2s are the future of crypto, and we’re making it dramatically simpler for MetaMask users to move in and out: what used to take 12+ complex steps can now be done in just a few clicks.”
Cashing out from web3 wallets is typically a cumbersome multi-hop process, necessitating bridging, transferring assets to an exchange, and withdrawing to bank account. With its L2 cash out service, Ramp Network slashes this time from as much as an hour to under a minute.
A string of positive TrustPilot reviews have shown that users of the service have been taken with the ability to on- and off-ramp directly from L2s.
The expansion to L2 networks builds upon Ramp’s existing integration with MetaMask which has proven popular with users of the non-custodial EVM wallet. Ramp’s support for a wide range of L2 networks provides greater utility and convenience for MetaMask users while making it easier to convert between fiat and crypto.
Ramp Network is giving MetaMask users the ability to bypass those steps completely. By cutting out the Ethereum mainnet, Ramp Network is helping L2 networks to fulfill their true purpose, ensuring 2x faster cashouts at lower rates by eliminating bridging fees and additional gas costs.
The announcement comes at a time when crypto prices are soaring. Bitcoin’s rally recently saw it surpass the $100K milestone for the first time, and many cryptocurrencies are following in its wake, with ETH up more than 50% in the last 30 days. At times like these, more users are looking to cash out quickly and maximize their gains, or realize their investments before a market downturn. Ramp Network’s integration with MetaMask streamlines this process, with minimal delays.
Thanks to its support for instant bank transfers in the U.S. and real-time payouts via SEPA Instant in Europe, and cards globally, MetaMask users can now exchange their L2-based ETH tokens for more than 35 currencies in 130+ countries, quickly and securely, in just a few clicks.
Ramp Network is already one of the most popular crypto on- and off-ramps on MetaMask, and today’s integration deepens that partnership. Ramp Network plans to add support for more tokens, blockchains and L2 networks on MetaMask, ensuring that every one of its users has access to the quick, simple and cost-effective fiat-to-crypto and crypto-to-fiat transactions.
About Ramp Network
Ramp Network is a financial technology company building solutions that connect the crypto economy with today’s global financial infrastructure. Through its core on- and off-ramp products, Ramp Network provides businesses and individuals across 150+ countries with a streamlined and smooth experience when converting between cryptocurrencies and fiat currencies. Ramp Network is fully integrated with the world’s major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more.
About Consensys
Consensys is the leading blockchain and web3 software company. Since 2014, Consensys has been at the forefront of innovation, pioneering technological developments within the web3 ecosystem. Through our product suite, including the MetaMask platform, Infura, Linea, Diligence, and Phosphor, our NFT toolkit; we have become the trusted collaborator for users, creators, and developers on their path to building and belonging in the digital world. Whether building a dapp, an NFT collection, a portfolio, or a better future, we believe that the instinct to build is universal. Consensys inspires and champions the builder instinct in everyone, by making web3 universally easy to use and develop. To explore our products and solutions, visit https://consensys.io/.
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