By Chung YeeDeFi
MetaMask’s latest integration of Apple Pay opens the doors to the crypto market to more than 68 fiat currencies.
With this latest integration, Apple Pay’s users can now purchase cryptos by using debit cards or credit cards. A daily maximum deposit of $400 can be credited into their wallet using Visa or Mastercard through the Wyre Application Programming Interface (API).
Metamask also added on its Twitter announcement that it also supports gasless transaction.
Although MetaMask is a decentralized crypto wallet service provider, Apply Pay users are still subject to Know-Your-Customer (KYC) protocols.
Recognizing Crypto Adoption
Many institutions, in particular payment gateways, are starting to recognize the need to offer services that facilitates crypto adoption. CNBC, in its recent survey, discovered that one in five adult Americans have dabbled with cryptocurrencies.
MetaMask is a non-custodial crypto wallet service provider that allows for its users to buy, store, send, and swap their crypto assets in a decentralized manner. MetaMask recently announced that its monthly active users have exceed 30 million in January this year.
Rumours are rife in the crypto space that Apple might purchase Bitcoin as its reserves to provide liquidity. This will only be possible if Apple Pay allows for direct purchase of Bitcoin from its platform. In most jurisdictions, to operate as a crypto exchange, the institution has to be licensed.
Secondly, Wyre has been named as the third party payment processor. Therefore, this rules out the need to maintain a reserve for direct purchase.
Source : web3wire.news