MetaMask, a popular Ethereum wallet, has partnered with Ramp Network to revolutionize how users access their assets. This agreement allows users to withdraw Ether (ETH) straight from Layer-2 (L2) networks like Polygon, Optimism, and BNB Chain into fiat currencies, eliminating the need for bridges or centralized exchanges.
Traditionally, transferring cryptocurrency from L2 networks to fiat required many steps, including bridging assets to Ethereum’s mainnet, paying high gas fees, and changing crypto to money via controlled exchanges. The new function simplifies the withdrawal process, making it faster, less expensive, and easier to use.
The connection accepts over 35 fiat currencies and offers a variety of payment methods, including rapid bank transfers in the United States and real-time payouts via SEPA in Europe. Users in over 130 countries now have easy access to their assets without having to go through the costly and time-consuming steps that were previously required.
Ramp Network CEO Szymon Sypniewicz emphasized the company’s commitment to making blockchain technology more accessible: “We’ve removed unnecessary steps to provide a direct and secure way for users to convert their crypto holdings on Layer-2 networks into fiat currencies.
This advancement occurs when Ethereum’s Layer-2 solutions gain popularity for their potential to reduce transaction fees and alleviate network congestion. The cooperation bridges the gap between DeFi and traditional financial institutions by providing direct off-ramps, enabling Layer-2 consumers to gain access to liquidity.
The broader trend of simplifying bitcoin transactions is obvious, with companies such as Transak attempting to increase user accessibility. By utilizing traditional payment methods such as Apple Pay and credit cards, the sector is breaking down barriers and making bitcoin purchases more accessible to Web2 consumers.
As cryptocurrency acceptability grows, technologies like these will play a critical role in attracting new users to the decentralized ecosystem. MetaMask and Ramp Network have collaborated to make cryptocurrency transactions faster, cheaper, and more accessible to everyone.
