Ethereum wallet Metamask adds bank-to-crypto transfers

According to a Consensys blog post on Oct. 11, the Ethereum-based Metamask wallet has added instant bank-to-crypto transfers via settlement merchant Sardine, an automated clearing house (ACH).

Metamask users can exchange currencies for more than 30 crypto-currency tokens.

On Tuesday, crypto-currency company Consensys released an announcement that explains the ETH Wallet Metamask has added bank-to-crypto transfers via ACH. Sardine. “With Sardine’s new instant ACH integration, you can buy crypto-currencies instantly, with no settlement time“, explains Consensys in the recently published document. blog post. The crypto company added:

Instant ACH allows orders to be executed in minutes instead of days like a standard ACH order, and works on holidays, unlike regular ACH.

The new feature added by Sardine allows Metamask users to transfer their fiat into crypto-currencies with a maximum limit of $3K per day. Users can also spend up to $5,000 per week or $25,000 per month to purchase more than 30 crypto assets. The Consensys blog post states that not only does Sardine offer a fast currency transfer service, but it is also possible to purchase more than 30 crypto-currencies. ACH services it also provides “a robust compliance and fraud prevention infrastructure.”

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Consensys further mentions that Sardine is operated by crypto companies like Tom Brady’s Autograph, crypto exchange FTX and Moonpay. “The company is a leader in real-time fraud detection and enables users to move money faster and more securely with its ACH-to-crypto solution“, Consensys details. “Instead of waiting for the money to arrive in your account to use it, Sardine sends you the money instantly, so you don’t have to expect any delays.

In addition to Consensys, the official Metamask Twitter page tweeted: “Sardine’s payment system helps fight fraud and allows for instant purchases” and summarized how users could start using the newly added functionality. On Oct. 15, Metamask’s web portal states that the software is used by “30 million users worldwide“.

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