ConsenSys, parent company of the popular Ethereum wallet Metamask, has announced the addition of a new feature. It allows wallet users to benefit from instant bank-to-crypto transfers. This new payment option is made possible thanks to the collaboration between Metamask and the company Sardine.
The information comes from a blog post published by the company ConsenSys. It announces that thanks to Sardine, Metamask users will be able to exchange currencies for more than 30 different tokens, while benefiting from instantaneous transfers between the wallet and credit institutions.
If you’re not familiar with Sardine, it’s an instant settlement platform in fiat and crypto. A leader in its field and in real-time fraud detection, it uses the ACH-to-crypto solution to transfer funds without delay.
What we know about the new Metamask integration
According to the release, Metamask wallet users will be able to exchange their fiat for up to 30 cryptocurrencies with a $3,000 limit per day. Two other limits have been set regarding the amount that can be spent over a week and a month. They are respectively set at $5,000 per week, and $25,000 per month.
“With Sardine’s new Instant ACH integration, you can buy cryptocurrency instantly with no settlement delay. Instant ACH allows orders to complete in minutes instead of days like a standard ACH order, and works on holidays, unlike regular ACH.”
According to ConsenSys, this new capability is the result of providing a “robust compliance and fraud prevention infrastructure” from Sardine.
“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. “Instead of waiting for money to arrive in your account for use, Sardine sends money instantly.”
On the Metamask side, teams acknowledge that it’s also about strengthening fraud detection.
Unfortunately, instant bank-to-crypto transfers are limited (for now) to the United States.