MetaMask, a leading crypto wallet, has announced an integration with Sardine, a fiat and crypto settlement platform, which allows users in the United States to purchase cryptocurrency with bank financing. Sardine''s ACH settlement platform is used behind the scenes by existing crypto providers like FTX, MoonPay, Blockchain.com, and Autograph. The company is a leader in real-time fraud detection and allows users to move money faster and safer through its ACH-to-crypto solution.
This method of buying crypto directly from a bank account is expected to work significantly better than using cards for payments. That''s because they are often reduced by the bank. Plus, unlike regular ACH payments, Instant ACH is completed within minutes and also works during bank holidays. Finally, users may purchase cryptocurrency up to $3,000 (roughly Rs. 4.11 lakh) per week, and $25,000 (roughly Rs. 20.5 lakh) monthly. The limits have been set to ensure scams and frauds are minimized.
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Sardine''s funding round has included $51.5 million (roughly Rs. 424 crore) in a Series B grant sponsored by a crypto-friendly venture capital firm a16z. ConsenSys, the blockchain technology firm behind Metamask, also participated in the company''s funding round.
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Soups Ranjan, Sardine''s CEO and co-founder, said that Sardine has grown significantly since it first announced the Series A in February this year, increasing its client roster from 50 to 135.