MetaMask Teams Up With Ramp Network To Enables Cash Outs from Ethereum L2s

Ramp Network, a cryptocurrency on-and-off ramp solution platform, has announced that MetaMask now allows users to sell their cryptocurrency straight from Ethereum layer-2 networks.

With this collaboration, Ramp Network can allow withdrawals straight from layer-2 networks like BNB Chain, Polygon, and Optimism. Hence, MetaMask users can swap their tokens for fiat currencies without bridging the Ethereum main net.

Ramp Network’s Partnership with MetaMask

Ramp first partnered with the Ethereum-based wallet in September 2023. MetaMask is one of the most popular non-custodial cryptocurrency wallets used by most decentralized applications; it is owned by the Web3 software firm Consensys.

MetaMask users can manage their Ether keys using the wallet’s mobile app or browser extension. The last phase of the partnership will enable customers to cash out directly in 35 local currencies.

The platform added that it would provide support across 130 countries. Hence, local banks can allow MetaMask users with ETH on layer-2 networks to cash out in their local currency.

This integration enhances Ramp Network’s initial service of enabling users to purchase cryptocurrency using credit or debit cards, local payment methods, and direct bank transfers.

Other Ramp Partnerships

The Ramp Network’s latest expansion follows its collaboration with World Chain on Jan. 18. Ramp also partnered with Tools for Humanity. This tech firm develops tools to make digital and blockchain technologies accessible to everyone, regardless of their technical capabilities.

Hence, Ramp customers can purchase and sell the USDC stablecoin and World token (WLD) on the World Chain. This collaboration enabled on-ramp and off-ramp services for WLD and USDC on the Optimism network.

In addition, Ramp Network partnered with Sistema de Pagos Electrónicos Interbancarios (SPEI) to provide crypto-to-fiat off-ramps for Mexican banks. SPEI is a payment network that the Bank of Mexico operates.

This milestone enabled Ramp Network to provide its Mexico-based customers with cryptocurrency-to-Mexican Peso payouts in real-time. Last September, the platform introduced its service in all 50 U.S. states, including the District of Columbia. The firm also offers its services in Brazil.