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Metamask users in Nigeria can now directly and instantly purchase crypto assets within the mobile app, said Consensys and its Web3 infrastructure partner, Moonpay. According to a Consensys executive, launching this feature helps reduce friction while breaking down barriers that prevent or stop Nigerians from using Web3.
Buying Crypto via Instant Bank Transfer
Consensys, one of the leading Web3 companies, said Metamask wallet users in Nigeria can now directly purchase crypto assets within the mobile app. To help make this happen, Consensys partnered with infrastructure company Web3 Moonpay. The addition of this feature allows users from the country to buy crypto assets without having to create an account with a centralized crypto exchange.
In a March 21 joint statement, Consensys said the decision to enable in-person purchases was driven by the high number of rejected or blocked transactions when the payment method was a credit or debit card. However, using this newly added feature, Metamask users can now use instant bank transfers to buy crypto in their mobile apps and dapp (decentralized app) portfolios.
Simplifying User Experience
Commenting on the new feature addition to the wallet, Lorenzo Santos, senior product manager at Metamask, noted:
This is an important next step in a critical market that has embraced crypto and Web3 but faces serious challenges when using it [the] fiat to crypto on the way. We reduce friction and break down barriers to continue supporting Nigerians as they step onto Web3.
Zeeshan Feroz, chief product & strategy officer of Moonpay, said the integration allows Nigerians to fund their own custody wallet through what he describes as a “simplified user experience”.
Meanwhile, the statement also revealed that Consensys and partners plan to roll out this feature in Kenya, Botswana, and South Africa in the coming months.
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