MetaMask, the widely-used decentralized cryptocurrency wallet for Ethereum-compatible blockchains, has introduced a new feature allowing its customers to easily fund their accounts through Stripe. This integration further streamlines the process of purchasing cryptocurrencies with traditional fiat currencies.
On October 11, 2023, the MetaMask cryptocurrency wallet team announced that all of its users in the United States now have the convenient option to initiate cryptocurrency purchases via Stripe, a prominent global fintech company.
MetaMask has rolled out its latest services across all of its versions, including the MetaMask mobile app, browser extensions, and the MetaMask Portfolio web interface. This new addition, the fiat-to-crypto on-ramp, is powered by Link, which is Stripe's one-click payment solution. This integration aims to enhance authorization rates and simplify the purchasing process for users.
Stripe is a well-established player in the payments processing industry, serving more than two million customers worldwide. Currently, over 3.1 million active websites utilize Stripe as their preferred payment processor. It's worth noting that Stripe has been supporting payouts in various popular cryptocurrencies, including Circle's USDC, since 2022.
Stripe has recently become the tenth payment provider to integrate with MetaMask, further expanding the cryptocurrency-to-fiat on-ramp options within the MetaMask ecosystem. This move follows the integration of other notable payment providers like Transak, Coinbase Pay, PayPal, MoonPay, Sardine, Banxa, Onramp, Mercuryo, and Ramp.
In September 2023, MetaMask introduced Snaps, a platform for third-party developers that enables them to create extensions and add-ons for MetaMask, even extending their functionality to non-Ethereum Virtual Machine (EVM) blockchains.
In the initial release of MetaMask Snaps, developers can create applications that cater to cryptocurrencies such as Bitcoin (BTC), Cosmos (ATOM), Polkadot (DOT), and more, broadening the scope of the MetaMask ecosystem.
