Transactions Facilitated as Transak and MetaMask Collaborate for Straightforward Stablecoin Integration and Identifiable Bank Account Numbers
MetaMask, the popular cryptocurrency wallet used by over 100 million people worldwide, has announced a significant update that will make buying and using stablecoins more accessible than ever before.
Thanks to a new partnership with Transak, MetaMask users in the US and EU can now purchase MetaMask USD (mUSD) and other stablecoins like USDC and USDT at near 1:1 rates, all without leaving the app. This integration sets a new standard for a fast, affordable, and intuitive crypto experience.
Transak's white-label APIs and named IBAN capabilities are being used for this onramping. The new setup offers near 1:1 stablecoin purchases delivered natively inside MetaMask, a move that strengthens MetaMask's role as a gateway for mainstream stablecoin adoption.
"This integration brings the benefits of global payments and smart contracts to the forefront, making them accessible at last, and paving the way for the next wave of crypto adoption," says Sami Start, Co-Founder & CEO of Transak.
The integration aims to flip the traditional equation of onboarding new users to self-custody, offering a seamless experience without compromising on control. Transak's rebuilt infrastructure addresses the issues of expensive and inconsistent on-ramping services, such as card fees, spreads, hidden charges, clunky redirects, and failed transactions.
mUSD, the stablecoin at the heart of this integration, is issued by Bridge, a Stripe company, and powered onchain by M0, a decentralized stablecoin infrastructure and liquidity platform. The integration offers a reliable experience combining the reliability of fiat rails with the ownership and control of self-custody.
Lorenzo Santos, Senior Product Manager at MetaMask, states that the integration with Transak aims to make buying crypto as smooth and safe as using a bank app. The new onboarding experience is designed for those looking to use crypto as everyday users, not just traders.
MetaMask is evolving to meet the changing needs of its users, supporting a broader set of use cases beyond trading. The new deposit flow reflects the shift where stablecoins aren't just for trading, but are powering payments, remittances, savings, and everyday financial activity.
Transak, a stablecoin payments infrastructure, is now exclusively powering stablecoin onramping through MetaMask's Deposit button. This move marks a shift in how wallets and crypto apps are approaching on-ramping and stablecoins.
With the new Deposit button, users will find a new, transparent, and branded experience with no popups or redirects. This update is part of MetaMask's strategy to move towards a fully embedded experience, reducing friction, cutting costs, and making onboarding feel as seamless as using a neobank.
In conclusion, the partnership between MetaMask and Transak is set to revolutionize the way users interact with stablecoins, making them more accessible and user-friendly than ever before. This integration is a significant step towards mainstream adoption of cryptocurrencies as everyday tools for financial activity.
