MetaMask Enables Ethereum to Fiat Exchange

MetaMask, a cryptocurrency wallet, has announced the introduction of a feature that enables users to exchange Ethereum for fiat currency.

MetaMask announced in a post published on X formerly Twitter on September 5 that users with crypto wallets connected to the platform’s Portfolio decentralized application would be able to withdraw Ether and send fiat to their bank accounts in the United States, the United Kingdom, and sections of Europe.

The initial implementation of MetaMask was limited to ETH, but the company plans to expand to “native gas tokens on layer 2 networks” in the future.

MetaMask launched a function permitting users to purchase cryptocurrencies with fiat from bank accounts, PayPal, and debit and credit cards approximately five months before the launch of the sell feature.

The platform stated at the time that it intended to launch the “buy crypto” service for more than 90 tokens in over 189 countries. MetaMask has previously announced partnerships with providers of crypto on-ramps, including MoonPay, Sardine, Transak, and Wyre.

In March, the platform introduced a marketplace for staking to its institutional customers. The cryptocurrency wallet, which is utilized by many retail investors in various countries, has frequently been a target for con artists and evil actors.

On September 5, it was reported that fraudsters had taken control of government websites in India, Nigeria, Egypt, Colombia, Brazil, and Vietnam in an attempt to deceive users into submitting their confidential information to bogus MetaMask sites.