Fiat-to-crypto payments aggregator Onramper has launched a new service called “Offramper,” which helps users convert their crypto holdings into fiat currency.
The service integrates multiple off-ramp providers to offer global coverage, diverse payout methods, and competitive prices.
Offramper will support 46 fiat currencies and over 500 cryptocurrencies across 200 countries, allowing users to off-ramp to 39 payment methods, including credit cards, bank accounts, and PayPal. The service uses smart routing to connect users with the best off-ramp provider based on their location and preferences.
The platform is kicking off with a range of off-ramp providers, such as MoonPay, Alchemy Pay, Banxa, Onramp.Money, TransFi, Koywe, and Unlimit.
Thijs Maas, CEO of Onramper, said “Onramper reduces engineering overhead, while increasing conversion and reducing end-user fees with smart routing, and our new off-ramp stack is built on those same principles”.
Netherlands-based Onramper’s on-ramp service already allows clients to buy over 2000 digital assets in 190 countries with more than 130 payment methods. Wallet providers Cake Wallet and Bifrost Wallet will soon integrate the new Offramper service for their users.
Earlier this year, MoonPay announced a strategic investment in Onramper to provide its clients with a comprehensive solution for optimizing conversion rates across different regions.
MoonPay, a crypto unicorn backed by venture firms such as Tiger Global, Coatue, Blossom Capital, Thrive Capital, and Paradigm, was launched in 2019. The startup focuses on bridging fiat-to-crypto transactions using debit and credit cards.
To bridge the gap between Web2 and Web3, MoonPay provides companies with support across compliance, know-your-customer and anti-money laundering practices, and fraud prevention.
Meanwhile, Onramper offers a ready-to-use API solution that dynamically routes fiat-to-crypto onramp transactions.
The customer loyalty and engagement market is expected to reach $25.4 billion by 2029, growing at a compound annual growth rate (CAGR) of 17.3%. The rise of subscription-based business models across various industries has driven the adoption of loyalty programs targeting recurring revenue streams.
