According to a Consensys blog post published on October 11, the Ethereum-based wallet Metamask has added instant bank-to-crypto transfers via the automated clearing house (ACH) settlement merchant Sardine.
Metamask Users Can Swap Fiat for Over 30 Crypto Tokens
On Tuesday, the crypto firm Consensys published an announcement that explains the ETH wallet Metamask has added bank-to-crypto transfers through the ACH company Sardine. “With Sardine’s new instant ACH integration, you can buy crypto instantly with no settlement delays,” Consensys explains in the recently published blog post. The crypto firm added:
Instant ACH allows orders to complete in minutes instead of days like a standard ACH order, and works on holidays, unlike regular ACH.
The newly added feature via Sardine allows Metamask users to transfer their fiat for cryptocurrencies with a maximum limit of $3K per day. Users can also spend up to $5K per week or $25K per month in order to purchase more than 30 crypto assets. Consensys’s blog post says that not only does Sardine offer quick ACH services it also provides “robust compliance and fraud prevention infrastructure.”
Consensys further mentions that Sardine is leveraged by crypto firms such as Tom Brady’s Autograph, the crypto exchange FTX, and Moonpay. “The company is a leader in real-time fraud detection and allows users to move money faster and safer through its ACH-to-crypto solution,” Consensys details. “Instead of waiting for the money to hit your account in order to use it, Sardine sends you the money instantly, so you don’t have to expect any delays.”
In addition to Consensys, the official Metamask Twitter page tweeted: “Sardine’s payment system helps combat fraud and allows instant purchases” and summarized how users could start using the newly added feature. Metamask’s web portal on October 15 claims the software is leveraged by “30 million users worldwide.”
What do you think about Metamask adding instant bank-to-crypto transfers via Sardine’s ACH services? Let us know what you think about this subject in the comments section below.