Metamask Announces Launch of New Fiat Off-Ramps, Allowing Seamless Direct to Bank & Paypal Transfers
New partnerships with regulated entities like Transak enable direct bank and PayPal transfers, increasing accessibility.
TL;DR: MetaMask has introduced new off-ramp capabilities, enabling users to easily convert crypto holdings into fiat currency and withdraw directly to their bank accounts or PayPal balances. This enhances the self-custodial wallet’s utility and aligns with its mission of furthering mainstream adoption.
MetaMask, the leading Ethereum and multi-chain wallet, has expanded its fiat off-ramp integration through partnerships with regulated service providers like Transak. Users can now seamlessly sell ETH and other supported crypto assets and receive the fiat currency directly in their bank accounts or PayPal balances.
This new functionality builds on MetaMask’s existing on-ramp integration with partners like Transak, allowing users to now complete the purchase and cash-out lifecycle within one ecosystem. Lorenzo Santo, Product Manager at MetaMask, says this “reinforces [their] commitment to providing users with a seamless experience” and bridges “the gap between crypto and fiat.”
The off-ramp feature is currently available for Ethereum’s native ETH token on the Ethereum mainnet, with support for Layer 2 networks and additional currencies planned soon. Fiat currency options include USD, EUR, and GBP. The service is live in the US, UK, and parts of Europe so far.
By expanding options to enter and exit crypto, MetaMask is removing frictions and enabling fuller web3 participation aligned with its goal of mainstream adoption. The company said in its announcement that “Ensuring a way for users to enter and exit crypto freely is important, and we hope these options make web3 attainable to more people.”
This development comes on the heels of MetaMask’s recent optimized Apple Pay integration via Banxa and its educational MetaMask Learn launch. With over 30 million monthly active users, the self-custodial wallet is working to make web3 more accessible while maintaining its commitment to user control and privacy.