London, England, January 22nd, 2025,
Chainwire
Ramp Network, the financial technology company
building payment rails connecting crypto to the global financial
system, is expanding its long-standing partnership with MetaMask.
Today, MetaMask users around the world gain the ability to sell ETH
tokens they hold on Ethereum Layer-2 networks directly for cash,
with support for more than 35 fiat currencies.
The addition of Ethereum L2 offramps ensures MetaMask users
benefit from a faster, simpler, and, most importantly, more
cost-effective cashout experience, converting their ETH crypto to
cash directly from their wallet, in seconds. At launch, Ramp
Network supports ETH offramps for L2 networks including, Optimism,
Polygon, BNB Chain, and more.
“With Ramp Network, MetaMask users can now effortlessly withdraw
their funds and engage with crypto across their preferred networks,
enhancing convenience and accessibility,” said Lorenzo Santos,
Senior Product Manager at Consensys.
Szymon Sypniewicz, CEO at Ramp Network, commented: "We're
thrilled to deepen our partnership with MetaMask by introducing
direct Layer-2 cashouts. Layer-2s are the future of crypto, and
we're making it dramatically simpler for MetaMask users to move in
and out: what used to take 12+ complex steps can now be done in
just a few clicks."
Cashing out from web3 wallets is typically a cumbersome
multi-hop process, necessitating bridging, transferring assets to
an exchange, and withdrawing to bank account. With its L2 cash out
service, Ramp Network slashes this time from as much as an hour to
under a minute.
A string of positive TrustPilot reviews have shown that users of
the service have been taken with the ability to on- and off-ramp
directly from L2s.
The expansion to L2 networks builds upon Ramp’s existing
integration with MetaMask which has proven popular with users of
the non-custodial EVM wallet. Ramp’s support for a wide range of L2
networks provides greater utility and convenience for MetaMask
users while making it easier to convert between fiat and
crypto.
Ramp Network is giving MetaMask users the ability to bypass
those steps completely. By cutting out the Ethereum mainnet, Ramp
Network is helping L2 networks to fulfill their true purpose,
ensuring 2x faster cashouts at lower rates by eliminating bridging
fees and additional gas costs.
The announcement comes at a time when crypto prices are soaring.
Bitcoin’s rally recently saw it surpass the $100K milestone for the
first time, and many cryptocurrencies are following in its wake,
with ETH up more than 50% in the last 30 days. At times like these,
more users are looking to cash out quickly and maximize their
gains, or realize their investments before a market downturn. Ramp
Network’s integration with MetaMask streamlines this process, with
minimal delays.
Thanks to its support for instant bank transfers in the U.S. and
real-time payouts via SEPA Instant in Europe, and cards globally,
MetaMask users can now exchange their L2-based ETH tokens for more
than 35 currencies in 130+ countries, quickly and securely, in just
a few clicks.
Ramp Network is already one of the most popular crypto on- and
off-ramps on MetaMask, and
today’s integration deepens that partnership. Ramp Network plans to
add support for more tokens, blockchains and L2 networks on
MetaMask, ensuring that every one of its users has access to the
quick, simple and cost-effective fiat-to-crypto and crypto-to-fiat
transactions.
About Ramp Network
Ramp Network is a financial technology company
building solutions that connect the crypto economy with today’s
global financial infrastructure. Through its core on- and off-ramp
products, Ramp Network provides businesses and individuals across
150+ countries with a streamlined and smooth experience when
converting between cryptocurrencies and fiat currencies. Ramp
Network is fully integrated with the world’s major payment methods,
including debit and credit cards, bank transfers, Apple Pay, Google
Pay, and more.
About Consensys
Consensys is the leading blockchain and web3 software company.
Since 2014, Consensys has been at the forefront of innovation,
pioneering technological developments within the web3 ecosystem.
Through our product suite, including the MetaMask platform,
Infura, Linea, Diligence, and Phosphor, our NFT toolkit; we have become the trusted
collaborator for users, creators, and developers on their path to
building and belonging in the digital world. Whether building a
dapp, an NFT collection, a portfolio, or a better future, we
believe that the instinct to build is universal. Consensys inspires
and champions the builder instinct in everyone, by making web3
universally easy to use and develop. To explore our products and
solutions, visit https://consensys.io/.
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Contact
Leora
Schreiber
pr@marketacross.com