Metis aims to simplify crypto adoption with Banxa integration

Layer 2 Ethereum scaling solution Metis has integrated with crypto payment gateway Banxa, enabling Metis users to access Banxa’s fiat-to-crypto on-and-off ramp and supported cryptocurrencies, including ether, wBTC, aave, link and dai.

A survey by The Ascent in June last year found more than 46.5 million Americans planned to purchase cryptocurrency over the subsequent 12 months. Yet, 24% of Americans claim not to understand crypto or digital wallets, and another 17% said they had not invested in digital assets as they were unsure how.

Metis’s integration with Banxa aims to simplify that crypto onboarding process, particularly into Layer 2, reducing complexity for users in an attempt to make cryptocurrency more user-friendly and easily accessible for the next wave of adopters.

“We are always striving to propel the industry forward and accelerate the adoption of digital assets and blockchain technology,” said Metis CEO and co-founder Elena Sinelnikova in a statement. “In many ways, adoption begins with simplification of the technology and education around the potential that web3 represents,” she added.

As the world's first listed cryptocurrency payment gateway provider, Banxa uses a global network of local payment solutions paired with the necessary crypto licenses to facilitate low-fee, frictionless access to the crypto market in a compliant way.

“Metis represents one of the most popular Layer 2 solutions, and we feel strongly that, together, we can accelerate DeFi’s mass adoption,” said Banxa CCO Josh D’Ambrosio.

It’s the second integration for Metis in two weeks, having partnered with cross-chain bridge protocol Stargate on Jan. 19, aiming to help Metis users leverage the benefits of DeFi across multiple chains.