To facilitate the purchase of cryptocurrencies with bank funds in the United States, leading cryptocurrency wallet MetaMask has announced an interface with fiat and crypto settlement provider Sardine. For instant order fulfillment, even on weekends and holidays, you can count on Sardine's ACH-to-crypto solution. Existing crypto providers including FTX, MoonPay, Blockchain.com, and Autograph use the backend infrastructure developed by Sardine for compliance and fraud prevention. The firm's ACH-to-crypto solution enables consumers to move money quickly and securely, and the company is a frontrunner in real-time fraud detection.
It is anticipated that this technique of purchasing cryptocurrency would function considerably better than using cards for payments. This is due to the fact that their applications are typically denied by the financial institution. Instant ACH payments are processed in minutes and continue to be available even on bank holidays. Metamask must also adhere to the same Know Your Customer (KYC) requirements that users of Sardine must meet. Then, customers can invest as little as $3,000 (approximately Rs. 2.47 lakh) in cryptocurrency every day, $5,000 (approximately Rs. 4.11 lakh) per week, and $25,000 (approximately Rs. 20.5 lakh) per month. We have instituted these constraints in an effort to cut down on fraud and other forms of illegal activity.
With this collaboration, Sardine would cross another major milestone off its list of to-dos. The crypto-friendly venture capital firm a16z led the Series B fundraising, which totaled $51.5 million (approximately Rs. 424 crore), and was supported by other industry giants including Visa and Google Ventures. The creators of Metamask, a blockchain-based app, also contributed to Sardine's investment round, which was led by blockchain firm ConsenSys.
CEO and co-founder Soups Ranjan told TechCrunch after the announcement of the Series B financing that the company's client roster had increased from 50 to 135 since the Series A announcement in February.
