Ethereum Wallet MetaMask Adds Instant Bank-to-Crypto Transfers

Crypto wallet MetaMask is making it easier for users to turn their fiat into crypto through an integration with fintech firm Sardine, MetaMask parent company ConsenSys announced this week.

MetaMask users will now be able to fund their crypto wallets via bank transfers instantly, instead of having to wait for traditional fund transfers to clear.

In a blog post, ConsenSys argued that instant ACH transfers through Sardine are better than other methods for some users. For example, going through a crypto exchange or paying with a credit card can be less flexible because those methods may have monetary limits or result in declined transactions.

Through the new MetaMask integration, users will be able to turn their hard-earned cash into more than 30 tokens, up to Sardine’s daily transaction maximum of $3,000.

But instant conversions and purchases may raise questions about safety—and whether it potentially increases the risk of fraud or other illicit activity.

“Sardine’s payment system helps combat fraud,” MetaMask wrote as part of its announcement post on Twitter, but didn’t specify how.

Sardine’s website provides a bit more context: its homepage boasts that its developers “built the fraud prevention and compliance infrastructure that scaled both Coinbase and Revolut.” It also claims that its tech is able to detect 300% more fraud than other vendors, and that its users reportedly experience 90% less identity fraud than through other platforms.

The startup appears confident in its ability to prevent and address fraud, as it promises Sardine takes complete liability for any chargebacks or returns for other business clients using its services. It’s also well-backed—last month, Sardine raised $51.5 million in its Series B funding round with Andreessen Horowitz leading the charge.

That said, it’s not clear what liabilities apply for MetaMask users when moving money with Sardine—and whether Sardine will be able to detect fraud on the crypto wallet, such as if a hacker manages to obtain a wallet’s private key and deposit funds from the linked bank account. MetaMask and Sardine did not respond to Decrypt’s request for comment.