- This is a significant change in the way that wallets and cryptocurrency applications handle stablecoins and on-ramping.
- MetaMask is going beyond standard third-party widgets and redirection to provide a completely integrated experience.
Transak, MetaMask’s longtime fiat onboarding partner and the stablecoin payments infrastructure behind more than 450 apps worldwide, is now solely responsible for powering stablecoin onramping through MetaMask’s Deposit button. This includes future support for MetaMask USD (mUSD), the wallet’s recently launched native stablecoin. With Transak’s white-label APIs and named IBAN capabilities, MetaMask users in the US and EU will be able to buy mUSD and stablecoins like USDC and USDT at around 1:1 prices without ever leaving the app starting today, September 15.
This is a significant change in the way that wallets and cryptocurrency applications handle stablecoins and on-ramping. With over 100 million users globally, MetaMask is going beyond standard third-party widgets and redirection to provide a completely integrated experience that lowers expenses, minimizes friction, and makes onboarding as easy as using a neobank.
This news follows two significant events: MetaMask’s introduction of its own native stablecoin, MetaMask USD, and Transak’s recent strategic fundraising to expand its stablecoin infrastructure internationally. M0 is a decentralized stablecoin infrastructure and liquidity platform that powers the onchain of mUSD, which is issued by Bridge, a Stripe subsidiary. Transak’s integrated 1:1 stablecoin onramp and mUSD, which are deeply integrated into MetaMask’s wallet, enhance MetaMask’s function as a gateway for the widespread adoption of stablecoins by providing users with a wallet-native digital dollar that they can spend on web3 in addition to a smooth fiat-to-stablecoin conversion.
The Reasons Behind MetaMask’s Action
Accessing cryptocurrency assets was the main goal of the on-ramp experience in wallets like MetaMask in the past, but how individuals utilize those assets has evolved. In order to satisfy these demands, MetaMask is now developing to enable a wider range of use cases beyond only trading, including payments, remittances, and routine financial operations. Topping up the MetaMask Card is simple and reasonably priced thanks to Transak’s integrated on-ramp capability, which enables customers to handle their money with ease for practical financial purposes.
Stablecoins now fuel payments, remittances, savings, and daily financial activity across dozens of applications and use cases, making them more than simply a tool for trading. This change is reflected in MetaMask’s redesigned deposit flow, which offers greater practical value by assisting users in switching from fiat to self-custody in a manner that is quick, easy, and utility-driven.
Through the direct integration of Transak’s white-label infrastructure into its application, MetaMask is providing users with:
- Transparent, 1:1 stablecoin purchases
- A new “Deposit” button powered by bank transfers (SEPA/Wire/ACH) and cards (Visa/MasterCard/ApplePay/GooglePay)
- Named IBANs (Virtual Bank Accounts) for each user (to be launched later this year)
Lorenzo Santos, Senior Product Manager at MetaMask stated:
Sami Start, Co-Founder & CEO of Transak stated:
Why This Changes the Game
Up until recently, the majority of on-ramping services into cryptocurrency were costly and unreliable; in addition to awkward redirection and unsuccessful transactions, customers often lost 2–5% of their money to card fees, spreads, and hidden costs. Onboarding new users to self-custody for wallets like as MetaMask has always required balancing convenience and control.
This launch changes that equation.
Transak has completely rebuilt its infrastructure by concentrating on stablecoins:
- Stablecoin-first onboarding flows
- Direct partnerships with banks and stablecoin issuers
- Optimized payment routing and liquidity aggregation
Transak now provides native stablecoin purchases inside MetaMask at a ratio of around 1:1. The outcome is a new benchmark for how cryptocurrency should feel: quick, inexpensive, and simple—like adding money to a Neobank wallet rather than traversing a crypto labyrinth.
Transak is the cryptocurrency and stablecoin payment infrastructure. Transak gives applications the ability to natively enroll customers, process cross-border payments, and manage multi-party payment flows inside their platforms with its Virtual Account APIs and compliance-ready rails.
Transak facilitates fiat-to-crypto and crypto-to-fiat transactions via bank transfers, cards, local payment methods, and stablecoins. It is integrated into more than 450 applications and is used by over 10 million people worldwide. With offices in London, Bengaluru, Dubai, and Hong Kong, as well as a base in Miami, Transak is a multinational corporation.
As the top Ethereum software provider, Consensys creates the tools, protocols, and infrastructure that support the biggest decentralized ecosystem on the planet. Consensys, which was founded in 2014 by Joseph Lubin, a co-founder of Ethereum, has been essential in the development of Ethereum, from developing groundbreaking technologies like MetaMask, Linea, and Infura to influencing the creation of protocols and staking infrastructure. Consensys is still at the forefront of Ethereum’s development today because to its strategic R&D and direct involvement in network enhancements like Pectra and the Merge. Consensys is in a unique position to advance Ethereum’s role as the trust layer for a new global economy that is decentralized, programmable, and accessible to everyone thanks to its extensive ecosystem roots and worldwide product portfolio. To find out more, go to consensys.io.
Source: https://thenewscrypto.com/transak-and-metamask-collaborate-to-offer-11-stablecoin-onramping-and-named-ibans/
