[NEWS] MetaMask partners with Stripe to launch on-ramp service across the US

On the 11th, cryptocurrency wallet MetaMask announced a partnership with Stripe, an online payment service provider.

Through this partnership, MetaMask has added Stripe's payment function to MetaMask, enabling on-ramp transactions (the process of exchanging fiat currency for cryptocurrency) via the high-speed payment solution "Link." Users can deposit fiat currency and receive cryptocurrency. This further increases the options for fiat currency payments.

Stripe on-ramp functions are available on mobile apps, browser add-ons, and the multi-functional portfolio service "MetaMask Portfolio."

Stripe has been providing on-ramp services hosted by Stripe since May. In addition, Stripe began supporting USD Coin (USDC) transfers on its payment platform "Stripe Connect" in April last year. In December of the same year, it began supporting Ethereum (ETH) and Solana (SOL) wallets, DeFi, and marketplaces, and has entered the Web 3.0 payment service field.

MetaMask announced fiat on-ramp in April, and last month announced the implementation of on-ramp and a cashout feature to cash out crypto assets. In addition, the company launched an open beta version of MetaMaskSnaps, which supports non-Ethereum Virtual Machine (EVM) compatible blockchains such as Bitcoin (BTC) and Solana (SOL).

It also provides a variety of crypto purchase services, such as linking with nine payment services such as PayPal and Coinbase Pay to provide fiat currency introduction, and accepting ApplePay, GooglePay, credit cards, debit cards, and bank transfers.

MetaMask serves 30 million users and provides connections to more than 17,000 Web 3.0 services. According to MetaMask's historical data, the wallet has processed at least $10 billion (approximately 1.5 trillion yen) in P2P (peer-to-peer) coin exchanges alone, without using other functions.

Reference:Announcement
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