The London-based fintech Revolut has announced that it will integrate MetaMask, a self-custodial wallet that lets users access blockchain applications and Web3, a move to allow clients to trade cryptocurrencies.
Purchases through MetaMask will be available for the neobank’s customers in the United Kingdom and the European Economic Area (EEA), who with be able to buy more than 20 tokens and currencies - including Ether, USD Coin, Tether, and Shiba Inu - against any of the 18 fiat currencies the fintech currently supports. The acquired crypto assets will be deposited directly in Revolut customers’ MetaMask wallets.
“This partnership is really about giving our users what they want — more control over their crypto, in a straightforward way, using platforms they already know and trust.
It also plays a crucial role in fostering broader crypto adoption, opening up the world of crypto to more people,” said Consensys, Metamask’s parent company.
One of the features activating thanks to this integration is tied to Know Your Customer (KYC) checks. Customers who add funds to MetaMask via the Revolut app will skip verification checks since the fintech relies on existing verification. A KYC process typically involve the collection of personal information and its verification.
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MetaMask allows users to buy cryptocurrencies directly within their wallets using various payment methods, including credit and debit cards, bank transfers, and digital wallets like Apple Pay, Google Pay, and PayPal. Another major benefit is that MetaMask allows withdrawals to Visa debit cards.
Over 40 million people worldwide use the Revolut app at present and MetaMask counts around 30 million users. The latter comes as an app and browser extension and is free to download.
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