MetaMask introduces Ethereum to fiat trades

MetaMask Portfolio has introduced a new “sell” feature, allowing users to convert their Ethereum holdings into select fiat currencies.

MetaMask, known for its digital wallet services, has rolled out a “sell” feature that enables users to convert their Ethereum (ETH) holdings into certain fiat currencies.

This addition comes after MetaMask had already integrated a “buy” function, and the cash-out option currently supports conversions into US dollars, euros, and British pounds.

So far, the feature only accommodates ETH on the Ethereum mainnet. MetaMask has alluded to plans to widen this service to other layer-2 networks and digital assets, although no specific roadmap has been released.

The option is available to users in select geographic locations, including the U.S., the U.K., and some European countries. The cash-out feature allows proceeds to be transferred to either a PayPal or bank account.

The process involves third-party crypto-to-fiat service providers—MoonPay, Transak, Sardine, and Banxa—which means that users must navigate through external platforms to complete their transactions.

These third-party providers offer real-time quotes for those interested in cashing out their Ether. After selecting a provider, users are redirected to complete the necessary banking arrangements. The funds should subsequently appear in the linked account within a few days after transaction confirmation in the MetaMask wallet.

Recent history suggests MetaMask is steadily increasing its range of services. For example, the digital wallet also rolled out a “swaps” feature that pulls token prices from multiple decentralized exchanges to facilitate trades.

Additionally, a platform for businesses and institutional-level users was introduced in March, focused on Ethereum staking in the wake of the network’s “Merge” upgrade.