Ramp Network Enhances MetaMask Partnership for Easier L2 Ether Cash-Outs
Ramp Network Expands Partnership with MetaMask
Ramp Network has enhanced its partnership with MetaMask, enabling users to convert Ether from layer 2 blockchains into fiat currencies. This update supports over 35 currencies, facilitating low-cost withdrawals from L2 networks such as Optimism, Polygon, and BNB Chain.
Key Features of the Update
- Users can convert Ether held on L2 networks into fiat via quick bank transfers in the US or instant SEPA payments in Europe.
- The off-ramp eliminates steps like bridging or using centralized exchanges.
- Lower fees are offered compared to Ethereum's mainnet, reducing congestion issues.
- Advanced users can avoid bridging risks while beginners benefit from a simplified process.
User Experience Improvement
Lorenzo Santos from Consensys stated that the integration enhances convenience for MetaMask users, allowing easier fund movements across networks. This builds on Ramp's existing On-ramp solution launched in 2023.
Market Context
The announcement comes amid increased interest in crypto, driven by events like Donald Trump's presidency. Users are looking for efficient cash-out options to capitalize on potential gains. Ramp Network's integration provides a faster method for accessing funds.
As crypto adoption grows, firms are simplifying fiat-crypto conversions. Transak recently partnered with Ronin Network to streamline NFT purchases and fiat-to-crypto transactions.