A fiat onramp, sometimes called a crypto onramp, is the process of converting fiat currency into cryptocurrency on a crypto exchange platform. Creating a seamless onramp experience is essential for mainstream adoption, and fintech companies can now leverage robust APIs to build and launch onramp and offramp platforms quickly and efficiently.
Building a Crypto Onramp Platform Made Simple
Start by selecting a trusted fiat-to-crypto onramp API provider like Striga, which offers a straightforward KYC/AML verification process and a free public sandbox to kick off your product development.
Once your product is ready, test it thoroughly to ensure it’s error-free before launch. With Striga’s API, you can onboard end users seamlessly, allowing them to exchange currencies at market rates on your platform.
To begin, integrate the KYC SDK into your app to start onboarding European users. This enables deposits, withdrawals, purchases, sales, and spending in cryptocurrencies.
After verification, each user receives a default wallet with an account for each currency. For crypto transactions, enrich accounts with deposit credentials, providing a unique crypto address for secure, user-specific blockchain interactions.
For comprehensive crypto access, offer users exchange wallets with vIBANs and branded virtual or physical crypto cards. These features let users make real-world transactions using crypto, with funds directly deducted from their accounts.
Key Considerations for Launching a Fiat-to-Crypto Onramp Platform
When launching your crypto onramp platform, keep the following in mind:
Understand Legal Requirements
Familiarize yourself with the regulations in your operating country. This might involve obtaining specific licenses and collaborating with legal experts to ensure compliance with all applicable laws.
Implement Strong Compliance Measures
Ensure your platform is fully compliant with regulations to operate smoothly and securely. Integrate KYC/AML procedures to verify user identities and prevent fraud, ensuring a safe and trusted platform for your users.
