- MetaMask has inked a partnership enabling users to withdraw funds from layer 2s
- Supported Ethereum scaling layers include Polygon and Optimism
- The feature supports more than 35 fiat currencies
MetaMask has partnered with Ramp Network to allow users to withdraw ETH directly from Ethereum layer 2s like Polygon and Optimism. The feature supports more than 35 fiat currencies and is available in over 135 countries. Ramp Network said that the option benefits the wallet’s users because it offers a faster, simpler, and cost-effective cashout experience, this adds to MetaMask’s previous attempts to bridge the gap between the crypto and fiat worlds.
From “12+ Complex Steps” to “Just a Few Clicks”
According to Lorenzo Santos, an executive at Consensys, MetaMask’s creator, the feature improves convenience and accessibility by allowing the wallet’s users to “engage with crypto across their preferred networks.”
💸 Sell your crypto directly in @MetaMask with Ramp Network – zero fees until the end of the month!
We now support:
⚡ ETH on Ethereum and the most popular L2s, like Optimism, Polygon, BNB Chain, and more
💸 Instant cashouts in 130+ countries and to 35+ local currencies
🌍 A… pic.twitter.com/sB2phheYgx— Ramp Network (@RampNetwork) January 22, 2025
Ramp Network CEO Szymon Sypniewics noted that blockchain scaling layers “are the future of crypto,” adding that the process of moving “in and out” of layer 2s now takes “just a few clicks” instead of the previous “12+ complex steps.”
Ramp Network disclosed that the cashout feature adds to its other partnerships with MetaMask. The network said that the feature is live and there’s “a string of positive Trust Pilot reviews.” It added that it’s working to support more scaling layers, blockchains, and tokens.
MetaMask wants to use the feature to reduce reliance on centralized exchanges when users want to cash out their holdings and also save them from the high fees associated with transacting on the mainchain.
It’s Not the First MetaMask Offramp Feature
The Ethereum scaling layer offramp feature comes five months after the web3 wallet collaborated with Baanx and Mastercard to trial a blockchain-based debit card. It also comes two years after MetaMask partnered with Sardine to allow users to purchase crypto instantly through their bank cards.
MetaMask has also in the past added a cashout feature to allow its Portfolio users to directly sell their ETH for cash.
With MetaMask allowing users to directly cashout their ETH held in scaling layers, it’s likely it’ll enable the same feature for other layer 2-powered tokens on other blockchains.