The cryptocurrency portfolio based on Ethereum Metamask widens its Fiat off-ramps to support 10 additional blockchain networks. This decision, in partnership with the supplier of transak payments, aims to simplify the conversion process of digital assets to traditional currency.
Metamask users have already been forced to make assets in ether tokens (ETH) before they can convert them into fiduciary money, adding additional steps and transaction costs.
However, as part of Metamask’s current partnerships with Transak, the portfolio will add a support to a total of 10 new networks: the Mainnet Arbitrum, the main Mainnet C-Chain, Base, BNB Chain, Celo, Fantom, Moonbeam, Moonriver, Optimism and Polygon.
The first four tokens to receive an immediate output ramp support include ETH SUR ETHEREUM, ETH on Optimisim, BNB (BNB) and the Polygon token (POL). The management of the six additional networks will be gradually deployed.
“By widening the exit capacities of the slaughter with Transak, Metamask removes obstacles between crypto and traditional currency, allowing users to convert a wider range of token directly into cash,” said Lorenzo Santos, senior product manager at Consensys.
Plus intuitive crypto-to-fiat payment ramps can also encourage more beginners for cryptography to invest in cryptocurrency, because the complex integration process has also often intimidated consumer users to buy digital assets.
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Crypto needs a better ramp for the first billion users
Metamask’s partnership with Transak is part of a wider effort to improve the accessibility of cryptocurrency transactions.
Metamask is often the first point of contact for beginners of cryptography, and it is essential to offer an intuitive Fiat off-ramping solution for its user base, according to Sami Start, co-founder and CEO of transak.
“User integration has always been a crypto challenge, especially for newcomers,” Startlegraph told Start, adding:
“Although a better ramp in the ramp will not instantly bring the first billions of users, this is a crucial step. The key is to provide users with a transparent way to move between web2 and web3, reducing complexity and strengthening confidence. »»
Integration with Transak aims to rationalize transactions by removing the unnecessary conversion steps that previously complicated the withdrawal process.
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Process of integration of cryptography riddled with friction points
According to Chintan Turakhia, Director of Coinbase Engineering, the current user integration process is complicated and riddled, which is the main problem that hinders the adoption of mass cryptography.
Speaking exclusively at Cointelegraph at the Ethcc, the Turakhia said:
“If our goal is to bring the next billion users – and start with only 100 million – we have to delete all these friction points.”
Some of the most urgent friction points include setting up a portfolio with a complicated seed phase, payment of transaction costs and the purchase of native blockchain tokens to transform on a network.
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