MetaMask, a ConsenSys decentralized self-custody wallet in partnership with MoonPay, expanded its services in Nigeria. This implies that Nigerian users can now purchase crypto using instant bank transfers directly within the MetaMask mobile app and Portfolio Dapp. The development will allow an easier transaction experience for MetaMask Nigerian users, ConsenSys said.
MoonPay is a Web3 infrastructure company, aiming to transform the customer experience via end-to-end solutions for payments, custody, design, digital asset, and smart contracts minting.
According to ConsenSys, due to a nearly 100% failure in credit/debit card attempts to buy crypto in Nigeria, the firm thought it a better solution to add more localized payment methods, such as instant bank transfers that will improve the situation, and reduce credit/debit failure rates. Further, this “will enable Nigerian users to access web3 more efficiently and obtain tokens conveniently without setting up an account with a centralized crypto exchange,” ConsenSys mentioned.
The rollout of this feature starting with Nigeria will continue across African countries like Kenya, Botswana, and South Africa in the coming month.
Following the MoonPay Partner and integration on MetaMask, Lorenzo Santos, Senior Product Manager at MetaMask said it is a critical step towards the challenges faced with fiat to the crypto on-ramp and the firm aims to aims to reduce friction and cut down barriers tagt would hinder Nigerians from onboarding into web3.
The Chief Product & Strategy Officer of MoonPay expressed they are being hopeful that the integration would have a path for Nigerians to fund their self-custody wallet using a simplified user experience.
A 2022 Chainalysis report has found that Nigeria ranks third place in MetaMask mobile active users, enlisting her among its top global market. “Nigeria is also among the top ten countries regarding visitors to metamask.io over the last month,” the report stated.
ConsenSys is an Ethereum and decentralized protocols software company. Enabling developers, enterprises, and individuals to build applications, launch financial infrastructure, and access the decentralized web.
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