ConsenSys, a Web3 company, has announced that MetaMask, the world’s leading self-custody wallet and MoonPay, the top web3 infrastructure firm, have expanded their services in Nigeria. Users of MetaMask in Nigeria can now buy crypto using instant bank transfers directly in the MetaMask mobile app and the Portfolio Dapp. This move will create a more efficient, cheaper and faster experience for customers.
Buying and selling crypto in Nigeria is challenging, with around 90% of attempts to buy crypto with a credit or debit card failing. However, the inclusion of localized payment options like instant bank transfers will improve this situation, enabling Nigerian users to obtain tokens without opening an account with a centralized crypto exchange. This will lead to reduced decline rates and an enhanced user experience.
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The companies plan to extend the service to Kenya, Botswana and South Africa in the coming months. The growing popularity of MetaMask in Nigeria demonstrates the increasing adoption of crypto in the country and the potential for further expansion of digital assets in Africa.