ConsenSys, the parent company of MetaMask, has announced a partnership with the leading web3 infrastructure firm, MoonPay, so Nigerian users can now instantly purchase digital assets via instant bank transfers within the MetaMask mobile app and the Portfolio Dapp, Guardian reports
MetaMask is a self-custody wallet, an extension for accessing Ethereum-enabled distributed applications or “dApps” in your normal browser.
In 2021, The central bank of Nigeria banned banks in the country from facilitating cryptocurrency transactions. As a result, buying and selling cryptocurrencies in Nigeria has been gruelling, with crypto enthusiasts and exchanges finding creative means to purchase digital assets.
The newly formed partnership with Moonpay will allow holders of the wallets to use localized payment modes that would lessen the stress encountered while trying to purchase cryptocurrency. More Nigerian users will efficiently and easily acquire tokens without creating a centralized crypto exchange account.
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In the coming months, the service will spill beyond Nigeria to other neighbouring countries like Kenya, Botswana, and South Africa.
Lorenzo Santos, Senior Product Manager at MetaMask, said, “This is an essential next step in a critical market that has embraced crypto and web3 but faces serious challenges when using fiat to crypto on-ramp. We are reducing friction and bringing down barriers to keep supporting Nigerians as they onboard into web3.”
On his part, Chief Product and Strategy Officer, MoonPay, Zeeshan Feroz, said, “This partnership will enable us to provide Nigerian users with Bank Transfers, a widely used payment method across Nigerian e-commerce businesses. We hope this integration opens the doors for Nigerians to fund their self-custody wallet through a simplified user experience.”
How to fund MetaMask wallet with crypto using instant transfer
MoonPay already offers localized peer-to-peer crypto purchases for users in Nigeria. ConsenSys states that this new integration will create a simple route for Nigerians to purchase crypto.
To use MoonPay to fund your MetaMask wallet in Nigeria, log in to the MetaMask mobile app or Portfolio Dapp, click or tap the Buy button, select Nigeria as your region, and then choose Instant Bank Transfer.
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Then enter the desired amount and token, select the MoonPay quote, checkout inside the MoonPay widget, and you have successfully purchased crypto directly in MetaMask and can now easily explore web3.
Established in 2019, MoonPay is a crypto payment service allowing people to buy and sell cryptocurrency and NFTs using debit cards, credit cards, and other major payment methods.
MoonPay recently announced its expansion into Nigeria without mentioning that the wallet in question was MetaMask.
Cryptocurrency purchases on MetaMask are faster and cheaper, thanks to the new integration that supports local bank transfers, allowing users to access cryptocurrencies without sending assets from a centralized exchange.
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