Ramp Network has collaborated with MetaMask to allow users to directly cash out Ethereum L2 tokens to over 35 fiat currencies without bridging to the Ethereum mainnet. This development makes selling L2-based ETH tokens for cash easier enabling users to initiate transactions from their wallets in seconds.
The integration is compatible with mainstream L2 networks such as Optimism, Polygon, and BNB Chain. Unlike the Ethereum mainnet, the service does not require processes like bridging or transferring assets through exchanges. This minimizes the time one uses in the transaction process and the costs incurred, making it easier for the user.
Ramp Network Enhance User Experience and Cost Savings
This new feature enables MetaMask users in more than 130 countries to withdraw their L2-based ETH crypto to different payment methods. These include bank transfers within the United States, SEPA payouts in real time in Europe, and global card transactions. This also guarantees compatibility with over 35 fiat currencies making it easier for many people to use.
Offramp service provided by Ramp Network is a bolder solution that solves a major problem in cryptocurrency transactions by cutting down the whole process from hours to seconds .This is because as cryptocurrency prices fluctuate, users require fast and affordable means of managing their investments.
Enhancement of Partnership with MetaMask
This integration extends the cooperation between Ramp Network and MetaMask, a non-custodial Ethereum wallet integrated with the Ramp Network. MetaMask users have already been accessible to Ramp’s onramp services, and this new feature adds more value to L2 solutions.
According to Lorenzo Santos, Senior Product Manager at ConsenSys, the partnership strengthened the product’s user accessibility. Szymon Sypniewicz, the CEO of Ramp Network, also pointed to the role of simplifying L2 transactions, stating that, for instance, what had to be done in many steps is now possible with several clicks.
Current and future initiatives of Ramp Network include allowing for more tokens, blockchains, and L2 networks to facilitate fiat and crypto transactions easily. This development is a big leap in bridging the gap between DeFi and conventional finance systems.
