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MetaMask Portfolio Introduces Ethereum-Fiat Conversion Feature

MetaMask enhances its digital wallet with a new 'sell' feature, allowing Ethereum conversion to fiat currencies, expanding user capabilities.
Published on 2023-09-06

MetaMask's New "Sell" Feature

MetaMask Portfolio has launched a new "sell" feature, enabling users to convert Ethereum (ETH) into select fiat currencies. This advancement broadens the functionality of MetaMask's digital wallet services, previously limited to a "buy" option. Users can now cash out their Ethereum holdings in US dollars, euros, and British pounds.

Geographic Availability and Future Plans

Currently, the feature supports ETH transactions on the Ethereum mainnet and is available to users in the U.S., U.K., and parts of Europe. MetaMask plans to expand this service to include other layer-2 networks and digital assets, although detailed timelines have not been disclosed.

Conversion Process and Third-Party Providers

The cash-out process involves third-party crypto-to-fiat service providers like MoonPay, Transak, Sardine, and Banxa. Users must navigate these external platforms to finalize transactions. These providers offer real-time conversion quotes, and after selecting a provider, users complete the banking arrangements externally. Funds typically appear in the linked account within a few days post-confirmation.

Expanding MetaMask Services

MetaMask's recent enhancements reflect its commitment to broadening service offerings. In addition to the "sell" feature, MetaMask introduced a "swaps" feature for efficient token trading across decentralized exchanges. Furthermore, a dedicated platform for businesses and institutional users was launched, focusing on Ethereum staking after the network's "Merge" upgrade.

These developments highlight MetaMask's strategic expansion in the digital finance ecosystem, aiming to provide comprehensive solutions for cryptocurrency users.

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