“It is important to ensure users have a free way to enter and exit cryptocurrencies,” the company said.
Users of the MetaMask cryptocurrency wallet can now cash out their digital assets into fiat currency and then send them to a bank account or PayPal account.
MetaMask said in a blog post on Tuesday that the feature is now available in the U.S., U.K. and parts of Europe, explaining that users of its browser-based platform can exchange cryptocurrencies for U.S. dollars, euros and British pounds. The post added that it "plans to expand to more regions to meet the needs of our global community."
“Combined with the buy functionality, it enables you to have a self-sufficient Web3 experience, with fewer intermediaries and faster conversions of fiat currency directly to the destination of your choice (like your bank account or PayPal balance),” the post reads. “Ensuring users have free ways to enter and exit crypto is important, and we hope these options make Web3 accessible to more people.”
With over 30 million monthly active users, MetaMask is a popular Ethereum wallet and browser extension available on Google Chrome, Brave, Edge, and Firefox. It connects internet browsers to Ethereum’s blockchain, allowing users to store keys and conduct transactions through exchanges and decentralized applications (dApps), such as decentralized finance protocols or crypto games.
Just last month, MetaMask partnered with fiat-to-crypto on-ramp and fintech company Banxa to launch an optimized Apple Pay option. In January, Metamask Learn was unveiled, described as a “learning simulation platform” designed to introduce key Web3 concepts to the public. #MetaMask #PayPal
