HomeNEWSMetaMask integrates Onramp.money to advance crypto access in India

MetaMask integrates Onramp.money to advance crypto access in India


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A collaboration between ConsenSys and Onramp.money will make avail advanced crypto services in India. In an announcement today, ConsenSys revealed that Metamask will integrate Bitbns’ Onramp.money to aid the swift processing of transactions for Indian users.

Bitbns is a prominent cryptocurrency exchange in India. The innovation will see Indians enjoy direct access to acquire virtual assets through their MetaMask mobile app. More so, the MetaMask mobile app will be supported by Onramp.money’s API that facilitates numerous indigenous payment methods. As revealed, these methods include UPI and IMPS. Therefore, it will allow users of MetaMask in the region to enjoy cryptocurrency services that are cost-effective, efficient, swift, and less stressful.

Before now, Onramp.money has been providing crypto services to the citizens of India prior to the collaboration. Presently, users of MetaMask in the country can now enjoy the services of Onramp.money through their mobile apps. According to ConsenSys, the partnership represents a notable development in the blockchain landscape adoption in India. Additionally, the announcement noted that the crypto market in the country is at an advanced stage. Thus, attracting the attention of crypto firms to venture into the market.

However, ConsenSys disclosed that despite the presence of top crypto exchanges in the country, there is still a need to improve crypto trading services. The Web3 firm highlighted that the crypto market in India still lacks a good payment infrastructure. This according to the firm is hindering the effective running of crypto transactions in the country. The firm believes that the advancement of crypto services in India will position the industry for prosperity and growth.

Furthermore, ConsenSys through the Integration of MetaMask with Onramp.money believes that the deficiencies will be duly addressed. With that, the firm is confident that Indian citizens will enjoy the good dividends of blockchain seamlessly. The partners divulge that the integration of UPI alongside blockchain can fastrack the adoption of cryptocurrency in the country.

Situation of Crypto in India

The trading volume of crypto in India has regressed since the country implemented taxation on it last year. Before then, the growth of the industry in India moved swiftly as its citizens embrace the innovation. On numerous occasions, the finance minister of India, Nirmala Sitharaman called for a stern attention on the industry.

Nirmala Sitharaman opined that there are loopholes in the crypto space that can aid illicit activities like money laundering and financing terrorism. The minister maintained that the Indian Government must introduce a regulation that’ll cover the lapses of such loopholes.

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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