MetaMask’s Latest Update Brings Seamless Crypto Purchases To Nigerian Users

Key Points:

• ConsenSys and MoonPay partner to expand MetaMask self-custody wallet offering in Nigeria through instant bank transfers.
• Nigerian users can purchase cryptocurrency directly within the MetaMask mobile app and Portfolio Dapp, providing a cheaper and faster experience.
• The collaboration between ConsenSys and MoonPay aims to boost Nigerian crypto market by eliminating complexity of purchasing crypto.

In collaboration with MoonPay, a top web3 infrastructure company, ConsenSys, a leading software company for Ethereum and decentralized protocols, has announced an expansion of its MetaMask self-custody wallet offering in Nigeria.

Using instant bank transfers, this development will allow Nigerian users to purchase cryptocurrency directly within the MetaMask mobile app and the Portfolio Dapp. The new addition aims to provide a more seamless, faster, and cheaper experience for users in Nigeria, where purchasing and selling crypto using credit/debit cards has been challenging.

Nigeria has been steadily adopting grassroots crypto, with almost 12.4 million people, 5.7% of the country’s population, estimated to own crypto assets. Nigeria is also among MetaMask’s top markets globally, ranking third in mobile active users and among the top ten countries for visitors to metamask.io. With this expansion of MetaMask’s offering in Nigeria, Nigerian users will be able to access web3 more efficiently and obtain tokens more conveniently without setting up an account with a centralized crypto exchange.

Lorenzo Santos, Senior Product Manager at MetaMask, said this expansion was an essential next step in a critical market that has embraced crypto and web3 but faces serious challenges when using fiat to the crypto on-ramp. By reducing friction and bringing down barriers, it aims to keep supporting Nigerians as they onboard into web3.

Chief Product & Strategy Officer of MoonPay, Zeeshan Feroz, added that the partnership with MetaMask would enable them to provide Nigerian users with bank transfers, a widely used payment method across Nigerian e-commerce businesses. They hope this integration opens the doors for Nigerians to fund their self-custody wallet through a simplified user experience.

The collaboration between Consensys and MoonPay has the potential to boost the Nigerian crypto market by eliminating the complexity of purchasing crypto, especially in Nigeria. Furthermore, with MetaMask’s self-custody wallet, users can become their own bank, directly controlling their assets.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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