Metamask adds option to buy crypto with US bank account
In an effort to diversify forms of payment, MetaMask has added the option to buy and sell crypto from a bank account for US users.
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According to the announcement of integration with fintech Sardine just published by ConsenSys, MetaMask is making it easy for users to “turn” fiat money into crypto.
MetaMask users can now fund crypto wallets with instant bank transfers and quickly exchange fiat to over 30 tokens. The maximum daily transaction limit on Sardine is $3,000.
ConsenSys argues instant ACH transfers via Sardine are better than other options for some users. For example, going through a cryptocurrency exchange or credit card may be less flexible because those methods have currency limits or frequent transaction rejection errors.
In response to a question about safety and the risk of fraud or illegal activity, MetaMask clarifies “the anti-fraud Sardine payment system”.
Sardine is an instant crypto and fiat payment platform with robust fraud prevention and compliance infrastructure trusted by major players such as Coinbase, Revolut, FTX, MoonPay, Blockchain, and Autograph. The company allows users to transfer money faster and more securely through its ACH-to-crypto solution.
By combining traditional financial data such as bank account history, identity, behavior and artificial intelligence (AI), Sardine's technology identifies risk, classifies transactions, and prevents effectively cheating. This technology can detect 300% more fraud and 90% lower the number of users reporting identity fraud experiences compared to other platforms/vendors.
This startup promises to take full responsibility for any chargebacks or returns to other corporate customers using its services. Last month, Sardine raised $51.5 million in a Series B funding round, led by Andreessen Horowitz (a16z).
FoxCryptoNews summary
Oct 17, 2022
