MetaMask self-custody crypto wallet announced on twitter that it has partnered with several entities across the globe including Egyptian payment provider Vodafone Cash to offer new ways to onboard crypto around the world.
MetaMask stated, “We’ve unlocked new ways to onboard to crypto around the world! -Vietnam: VietQR, Mobile Money, Philippines: GCash, Indonesia: QRIS, Thailand: Thai QR, Egypt: Vodafone Cash and Chile: Webpay
MetaMask has introduced a new ‘sell’ feature on its mobile app, enabling users across the world to exchange crypto for cash easily. In Africa, the feature is available for Nigerian and Egyptian users.
Metamask also announced that it is offering local transfers in in Vietnam, Malaysia, Japan, and South Korea.????
The partnership between MetaMask and Egyptian based Vodafone Cash is interesting given that Egypt has not legalized or regulated crypto trading and transfers.
The MetaMask wallet was downloaded the most in India and the United States, although 2023 data suggests growing popularity in other countries, most notably Brazil, Indonesia, Russia, India, and Nigeria.
In the Arab World, Metamask has been downloaded in Algeria, and Egypt.
MetaMask in December 2023 had 30 million users globally.
Although MetaMask is user-friendly, the wallet only comes pre-installed with the Ethereum network. Those wishing to add additional networks – such as Binance Smart Chain or Polygon, need to do this manually. It doe not support Bitcoin.
MetaMask supports all cryptocurrency tokens on the Arbitrum, Optimism, Binance Smart Chain, Polygon, and Avalanche networks.
This comes as Egypt develops its CBDC ( Central Bank Digital Currency). In December 2023 Abdel Monem Al-Sayed, Director of the Cairo Center for Economic and Strategic Studies, noted that the state is prioritizing digital transformation. The aim is to decrease reliance on cash and printed currency.
Egypt started on its CBDC project in December 2022. Egyptian Central bank announced that it was currently studying the implementation of CBDC (Central Bank Digital Currency) which should offer a safer and more secure replacement to current cryptocurrencies and the risks associated with them while making use of digital economy.
