MetaMask, the famous cryptocurrency wallet, has announced that it will now support direct digital asset transactions through Apple Pay utilizing debit and credit cards.
One advantage of the invention is that users would be able to directly seed their crypto wallets with digital assets rather than via centralized exchanges (CEXs) like Coinbase. CEXs are frequently seen as a transitional zone between decentralization and centralization – they act as gates to a decentralized economy, but their servers, like those of any conventional firm, are controlled centrally.
MetaMask is arguably more decentralized than traditional CEXs — Joseph Lubin, the co-founder of Consensys, the firm that created the wallet, has said that MetaMask would “gradually decentralize.” With the new Apple Pay functionality, users will be able to access the crypto ecosystem on the more decentralized end of the spectrum.
MetaMask has 30 million monthly active users as of January. That’s more than six times the amount of monthly active users the wallet had in April when Consensys celebrated surpassing 5 million.
MetaMask’s founders are looking to expand their user base to new heights with the inclusion of Apple Pay and a dark mode as part of the wallet’s revamp.
Although it has been widely reported that users would be restricted to purchase $400 worth of cryptocurrencies every day, Wyre, the payments API provider that MetaMask utilizes for the Apple Pay integration, states in their documentation a daily maximum of $500.