ETH

MetaMask Launches New ‘Sell’ Feature Allowing Crypto-to-Fiat Conversion

by BSCN

September 5, 2023

Leading self-custody wallet, MetaMask, today launched a new ‘Sell’ feature, allowing users to convert their digital assets to traditional currencies such as USD and GBP.

Announced via its blog and X (Twitter) account on September 5, MetaMask has launched its all-new ‘Sell’ feature which allows users to convert cryptocurrency to fiat currency, sent directly to users’ bank accounts.

The feature is currently available in the US, UK, and parts of Europe. However, plans to extend this service to other geographies have been made clear. The feature will be “initially supporting ETH on Ethereum Mainnet, with plans to expand to native gas tokens on layer 2 networks soon”.

MetaMask’s blog post also includes the below instructions on how to utilize its new feature:

Potential Impact

The update is significant as MetaMask stands as perhaps the 'most-used' tool to interact with the decentralized ecosystem. In particular, decentralized exchanges and other decentralized finance (DeFi) protocols.

With the ability to now withdraw from one’s self-custody wallet directly to one’s bank account, users can, theoretically, enjoy an end-to-end cryptocurrency journey, without the need to interact with centralized exchanges - a strata of platform that has faced growing skepticism over recent months and years.

Disclaimer

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