MetaMask users can now convert Ethereum from Layer 2 networks directly to fiat, bypassing mainnet delays and fees through Ramp Network’s expanded service.
Ramp Network is expanding its partnership with MetaMask, announcing that users of the cryptocurrency wallet can now easily convert Ether from layer 2 blockchains into fiat currencies.
The update supports more than 35 currencies, allowing users to avoid the delays and high fees associated with mainnet withdrawals. Ramp Network, a financial technology company that bridges the crypto world with the global financial system, stated that this feature simplifies and accelerates the process of cashing out crypto by enabling cheaper withdrawals from L2 networks like Optimism, Polygon, and BNB Chain.
Faster Withdrawals with Support for Layer 2 Networks
The new feature provides MetaMask users with the ability to convert Ether held on L2 networks into fiat through quick bank transfers in the US or instant SEPA payments in Europe. According to Cointelegraph, Ramp Network CEO Szymon Sypniewicz explained that the off-ramp eliminates unnecessary steps like bridging or using centralized exchanges. He emphasized the company’s commitment to simplicity and decentralization, saying:
“Our goal is to simplify the process while maintaining the decentralized principles of blockchain technology. [We offer] users a direct and secure way to exchange their crypto on L2s directly to fiat.”
By leveraging L2 off-ramps, users can seamlessly access liquidity from these networks, which are known for lower fees compared to Ethereum’s mainnet, often plagued by congestion and scalability issues. Sypniewicz mentioned that the approach provides a secure, straightforward experience, enabling advanced users to avoid bridging risks and simplifying the process for beginners to reduce errors.
Enhancing Accessibility and User Experience
Lorenzo Santos, Senior Product Manager at Consensys, noted that Ramp Network’s integration now makes it easier for MetaMask users to move funds and engage with their chosen networks. He remarked:
“With Ramp Network, MetaMask users can now effortlessly withdraw their funds and engage with crypto across their preferred networks, enhancing convenience and accessibility.”
Ramp’s expanded support for L2 networks builds on its existing integration with MetaMask, which began with the On-ramp solution launched in 2023. This latest development enhances functionality for MetaMask users by offering a streamlined way to switch between fiat and crypto, improving overall convenience.
The announcement coincides with heightened interest in crypto, spurred by events such as Donald Trump’s presidency and the launch of meme coins inspired by him and his wife. During periods like this, many users seek quick cash-out options to maximize gains before potential market downturns. Ramp Network’s integration with MetaMask delivers a faster, more efficient method for users to access their funds.
The growth in crypto adoption has led many firms to seek ways to simplify conversions between fiat and crypto. Recently, Transak partnered with Ronin Network to make fiat-to-crypto transactions and NFT purchases easier. Ronin users can now buy the network’s token, RON, using payment methods like Apple Pay and credit cards.
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