MetaMask expands crypto on-ramp options with Stripe integration
MetaMask, a popular Ethereum and multi-coin wallet, announced support for the major payment processor Stripe on Oct. 11.
That addition will allow users to deposit fiat and receive cryptocurrency through a new on-ramp. MetaMask said that the Stripe on-ramp feature is available through its mobile app, its browser add-on, and its multifeatured Portfolio service.
MetaMask stated that while the feature is initially available for users in the United States, there was no further information about its broader location availability or the specific fiat currencies supported.
MetaMask additionally noted that the feature is powered by Stripe’s Link service, which it described as a “one-click payment solution that optimizes authorization rates [ie. successful transactions] and simplifies the purchase experience.”
Metamask made an announcement about its other fiat on-ramps in April 2023. Later, it announced an off-ramp or cash-out feature in September.
MetaMask’s crypto buying page suggests that the platform has worked with at least nine other payment services to provide fiat on-ramps, the most notable of which are likely those involving PayPal and Coinbase Pay. MetaMask’s parent company, Consensys, announced those additions in December 2022 and May 2022, respectively.
Other payment services that serve as MetaMask on-ramps include Transak, MoonPay, Sardine, Banxa, Onramp.money, Ramp, and Mercuryo.
MetaMask has over 30 million users
MetaMask serves 30 million users and provides connections to over 17,000 Web3 services. The wallet supports Ethereum (ETH) and compatible tokens and networks.
Past reports from MetaMask suggest that its wallet has handled at least $10 billion in peer-to-peer coin swaps alone, not accounting for its other features.
Despite its massive popularity, the wallet has recently attracted controversy due to recent email address leaks, criticisms of IP address data collection and country blocking, and now-debunked allegations of tax collection.
It should be noted that MetaMask is not currently operating a token sale or airdrop, despite circulating rumors. As such, any such offers seen on social media should be treated as fraudulent.
