Connect with us

Hi, what are you looking for?

Metamask
Metamask

Cryptocurrency

MetaMask and the Ramp Network Enable Direct Crypto-to-Fiat Withdrawals

A new integration with Ramp Network enables MetaMask users to withdraw Ether directly from Layer-2 networks like Polygon and Optimism into fiat cash. This functionality decreases transaction fees, shortens withdrawal times, and eliminates the need for exchanges, making cryptocurrencies more accessible and usable.

MetaMask, a popular Ethereum wallet, has partnered with Ramp Network to revolutionize how users access their assets. This agreement allows users to withdraw Ether (ETH) straight from Layer-2 (L2) networks like Polygon, Optimism, and BNB Chain into fiat currencies, eliminating the need for bridges or centralized exchanges.

Traditionally, transferring cryptocurrency from L2 networks to fiat required many steps, including bridging assets to Ethereum’s mainnet, paying high gas fees, and changing crypto to money via controlled exchanges. The new function simplifies the withdrawal process, making it faster, less expensive, and easier to use.

The connection accepts over 35 fiat currencies and offers a variety of payment methods, including rapid bank transfers in the United States and real-time payouts via SEPA in Europe. Users in over 130 countries now have easy access to their assets without having to go through the costly and time-consuming steps that were previously required.

Ramp Network CEO Szymon Sypniewicz emphasized the company’s commitment to making blockchain technology more accessible: “We’ve removed unnecessary steps to provide a direct and secure way for users to convert their crypto holdings on Layer-2 networks into fiat currencies.

This advancement occurs when Ethereum’s Layer-2 solutions gain popularity for their potential to reduce transaction fees and alleviate network congestion. The cooperation bridges the gap between DeFi and traditional financial institutions by providing direct off-ramps, enabling Layer-2 consumers to gain access to liquidity.

The broader trend of simplifying bitcoin transactions is obvious, with companies such as Transak attempting to increase user accessibility. By utilizing traditional payment methods such as Apple Pay and credit cards, the sector is breaking down barriers and making bitcoin purchases more accessible to Web2 consumers.

As cryptocurrency acceptability grows, technologies like these will play a critical role in attracting new users to the decentralized ecosystem. MetaMask and Ramp Network have collaborated to make cryptocurrency transactions faster, cheaper, and more accessible to everyone.

author avatar
Contributor
We welcome Aspiring writers who are passionate about crypto and involved in it to join the Unbiased and Upright 4C Media Co. with a goal to spread knowledge and be a reliable source of crypto news updates.
Advertisement

You May Also Like

Cryptocurrency

In a significant turn for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) is no longer moving forward with its inquiry into...

Cryptocurrency

Though European banks are unable to keep up with the demand, the crypto market is attracting more attention these days. Though consumer and business...

Cryptocurrency

A court has tentatively lifted the three-month ban on Upbit, the largest digital asset exchange in South Korea, marking a significant development for the...

Cryptocurrency

Wyoming's state-backed stablecoin is on course to launch by July, according to Governor Mark Gordon. The state has partnered with LayerZero to develop and...

polkadot
Polkadot (DOT) $ 4.07 1.41%
bitcoin
Bitcoin (BTC) $ 84,292.58 1.17%
ethereum
Ethereum (ETH) $ 1,863.20 0.77%
cardano
Cardano (ADA) $ 0.668633 0.91%
xrp
XRP (XRP) $ 2.08 1.58%
stellar
Stellar (XLM) $ 0.266337 0.15%
litecoin
Litecoin (LTC) $ 81.90 3.21%