To empower Nigerian users with easy and safe access to crypto, Web3 company, ConsenSys has revealed that it is expanding its offering in Nigeria by partnering with MoonPay, to provide seamless, effective access to crypto via MetaMask, a self-custody wallet.
Users of MetaMask in Nigeria can now use instant bank transfers to purchase crypto directly within the MetaMask mobile app and the Portfolio Dapp, resulting in a cheaper, faster, more efficient and seamless experience.
According to available data, buying and selling crypto in Nigeria is challenging, with an estimated 90 per cent of attempts to buy crypto using a credit/debit card declining. However, adding more localised payment methods such as instant bank transfers will improve the situation, enabling users to access web3 more efficiently and obtain tokens conveniently without setting up an account with a centralised crypto exchange. This will reduce decline rates and provide a user-friendly experience.
Committed to providing seamless experiences for users in Africa, starting with Nigeria and expanding the rollout of this feature to Kenya, Botswana, and South Africa in the coming month; this collaboration with MoonPay is a step towards achieving this goal by providing users with a more convenient on-ramp experience in these countries.
Speaking with The Guardian, Senior Product Manager, MetaMask, Lorenzo Santos, said, “This is an essential next step in a critical market that has embraced crypto and web3 but faces serious challenges when using fiat to crypto on-ramp. We are reducing friction and bringing down barriers to keep supporting Nigerians as they onboard into web3.”
On his part, Chief Product and Strategy Officer, MoonPay, Zeeshan Feroz, said, “Our partnership with MetaMask will enable us to provide Nigerian users with bank transfers, a widely used payment method across Nigerian e-commerce businesses. We hope this integration opens the doors for Nigerians to fund their self-custody wallet through a simplified user experience.”
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