Fintech startup Ramp, MetaMask partner to bolster access to Web3
- Ramp and MetaMask have partnered to bolster Web3 adoption.
- The collaboration allows users to convert fiat into crypto from the MetaMask wallet.
Ramp, a UK-based fintech startup focused on Web3 growth via payment rails connecting crypto and traditional finance, has sealed a strategic partnership with Consensys’ self-custodial wallet MetaMask.
According to details in a press release shared with CoinJournal, the collaboration will see MetaMask directly integrate with Ramp’s on-ramp services, allowing customers to convert fiat into crypto from within their MetaMask wallet.
Users can tap into the functionality in both the wallet’s mobile app and Portfolio, unlocking access to decentralised applications (dApps), NFT marketplaces and Web3 gaming among other uses. This partnership between Ramp and MetaMask comes just weeks after payments giant PayPal also announced its on and off ramps solution was now live on MetaMask.
Streamlining Web3 access
MetaMask, which hit the 100 million user mark in 2022, sees tapping into the on-ramps as a crucial step in the quest to bridge the gap between the legacy financial system and decentralized finance. Rather than shoehorn new users into the space, integrations such as this remove key hurdles and allow anyone to venture into the world of crypto, said Lorenzo Santos, a senior product manager at MetaMask.
Ramp CEO Szymon Sypniewicz also shared this outlook, noting in a statement that the collaboration is set to accelerate Web3 adoption.
Building on the partnership could see MetaMask and Ramp help onboard millions of the wallet’s user to Web3, Sypniewicz said, adding that his company’s setup in South America could be key to this milestone. The partnership will leverage Ramp’s support for PIX, a payment method from the Central Bank of Brazil that offers instant payments across the South American nation.
Among global payment methods available to users will be bank transfers, debit and credit cards, Apple Pay, and Google Pay. In a bid to expand its global reach, Ramp announced support for 40 new fiat currencies, opening up the ability for more people to buy crypto in countries such as Mexico, India, Brazil and Nigeria.
