TransFi’s Fiat Onramp is Now Available to Ankr AppChain Clients

Published on: 07.05.2023

Ankr has partnered with TransFi to offer the optional feature of a fiat onramp/offramp solution.

By integrating with TransFi, they’re unlocking a wealth of new value for the AppChains product, equipping their clients with a powerful feature within their dApp or business that will attract the non-crypto experienced user base. With seamless fiat onramp /offramps, Ankr AppChains will empower their clients to build in a way that removes the barriers to entry which have hindered widespread adoption of Web3, enabling a smooth transition for new blockchain users, resulting in steady, consistent adoption of crypto over time.

What Does the TransFi Feature Mean for AppChains?

Ankr’s partnership with TransFi means that all AppChain projects now have an optional feature available to improve their Web3 application experience: a built-in fiat onramp and offramp solution. Fiat onramps allow Web3 app users to convert traditional fiat currency, such as US dollars, Euros, and Yen, into cryptocurrency, letting them skip the process of buying tokens on an exchange and potentially transferring them multiple times.

Benefits for AppChain Clients

Improving ROI for Enterprises

Having a fiat onramp/offramp solution greatly improves the ROI of Web3 projects for Ankr AppChain clients:

  • Expands Token Liquidity: Fiat onramps offer more avenues for purchasing tokens. Even if an AppChain client’s token is not widely listed on centralized exchanges like Coinbase or decentralized exchanges like Uniswap, the fiat onramp provides a readymade first stop for all AppChain users. Having the token readily accessible offers greater liquidity with the potential to boost trading volume, TVL, and price stability from the beginning.
  • Provides Regulatory Compliance: TransFi provides a robust KYC solution that includes instant identity verification and extensive screening to mitigate fraud, meet government regulations, and offer safer experiences.
  • Enhances Multichain App Utility: TransFi allows AppChain clients to create apps, such as new DeFi protocols, that allow users to purchase all kinds of tokens – not just their native token. That includes BTC, ETH, MATIC, DOT, and many others.

Benefits for AppChain End Users

Saving Users Time, Effort, and Money

TransFi makes users’ lives easier by creating the fastest way to purchase native AppChain tokens so they can begin interacting with Web3 apps immediately. Furthermore, users can avoid all of the extra processes and fees associated with purchasing tokens on an exchange, transferring them to another wallet, and then finally sending them to the AppChain wallet.

Making Web3 Applications Extremely User Friendly

The TransFi fiat onramp feature allows users to connect the most popular payment options unique to their home countries and use them to purchase tokens. With over 140 countries supported, TransFi allows users from all types of economies to use payment methods that are convenient for them.

Making Life Easier Even for Experienced Web3 Users

Just because you are well-versed in Web3 experiences doesn’t mean you’ll want to go through all the additional processes and gas fees associated with finding and purchasing tokens on an exchange and then deploying them on an application. The TransFi integration offers an easy way to purchase tokens while still letting advanced users send them to other wallets or blockchains as they wish.

About Ankr AppChains

The Ankr AppChains product is about empowering enterprises and Web3 applications to reach millions of new users by improving the technology and user experience behind them.

About TransFi

TransFi was founded in 2022 to enable Web3 access to the next billion users in Emerging Markets. We offer fiat-to-crypto onramp and offramp solutions with easy user experience, in local payment methods, with great conversion rates and at the lowest processing fees. Our world-class team of Crypto OGs, Payments professionals and Tech Gurus provide online & offline merchants with convenient acceptance of both fiat & crypto and makes crypto products accessible to all users.

SOURCE:

https://www.ankr.com/blog/transfi-fiat-onramp-enabled-for-ankr-appchain-clients/

Market Stats:
BTC Dominance: 50.87%(-0.33%/24h)
ETH Dominance: 18.57%(+0.41%/24h)
Defi Market Cap: $93.1B(-32.42%/24h)
Total Market Cap: $1995.3B(+0.91%/24h)
Total Trading Volume 24h: $49.56B(-1.35%/24h)
ETH Market Cap: $369.6B
Defi to ETH Ratio: 25.19%
Defi Dominance: 4.44%
Altcoin Market Cap: $980.22B
Altcoin Volume 24h: $34.67B
Total Cryptocurrencies: 28117
Active Cryptocurrencies: 8850
Active Market Pairs: 70327
Active Exchanges: 708
Total Exchanges: 7903
BTC: 51688.8$(0.3%/1H)
ETH: 3083.95$(0.77%/1H)
AVAX: 37.05$(0.68%/1H)
BNB: 388.64$(0.68%/1H)
MATIC: 0.98$(0.81%/1H)
FTM: 0.42$(0.15%/1H)
ADA: 0.59$(0.4%/1H)
DOT: 7.82$(0.55%/1H)
UNI: 10.75$(0.86%/1H)
CAKE: 3.17$(0.81%/1H)
SUSHI: 1.6$(0.79%/1H)
ONE: 0.02$(2.55%/1H)