MetaMask users can now cash out Ether directly from L2 networks

MetaMask has partnered with Ramp Network to enable users to withdraw Ether (CRYPTO:ETH) directly from layer-2 (L2) networks into fiat currencies.

This integration aims to streamline the cashout process, making it faster and more cost-effective compared to traditional methods.

With this new feature, MetaMask users can convert their Ether held on L2 networks like Optimism (CRYPTO:OP), Polygon (CRYPTO:MATIC), and BNB Chain into over 35 fiat currencies without the need for complex bridging or using centralised exchanges.

Szymon Sypniewicz, CEO of Ramp Network, emphasised that the goal is to simplify the process while adhering to decentralised principles.

“Our goal is to eliminate unnecessary steps like bridging or relying on CEXs,” Sypniewicz stated.

The off-ramping service allows for instant bank transfers in the U.S. and real-time payouts via SEPA Instant in Europe, enhancing user accessibility.

This development comes at a time when many Ethereum L2 users are seeking direct access to convert their crypto holdings into cash without incurring high fees or delays typically associated with mainnet withdrawals.

The integration not only improves user experience but also unlocks liquidity for L2 networks, which often have lower transaction fees than Ethereum’s mainnet.

By cutting out the need for bridging and reducing gas costs, Ramp Network facilitates a more efficient transaction process.

This partnership reflects a broader trend in the crypto space as companies strive to make fiat-to-crypto conversions more accessible and straightforward.

As crypto adoption continues to grow, features like these are likely to attract more users looking for efficient ways to manage their digital assets.

Overall, the collaboration between MetaMask and Ramp Network represents a significant advancement in simplifying cashouts from L2 networks directly into fiat currencies.

At the time of reporting, the Ethereum (ETH) price was $3,254.37.