A fiat onramp—often referred to as a fiat to crypto onramp—is the process of converting traditional fiat currency into cryptocurrency on a crypto exchange platform. A smooth onramp experience is vital for mainstream adoption, and fintech businesses can now leverage advanced market and tech tools to create onramp and offramp solutions with a streamlined API integration.
Building a Crypto Onramp Platform: A Simplified Process
To start, choose a reliable fiat-to-crypto onramp API provider like Striga. Striga’s solution allows you to quickly integrate with a straightforward KYC/AML verification process, guiding you through product-building steps on its accessible public sandbox.
Once your platform is ready, rigorous testing is key. After launch, you can onboard users via a simple API, enabling them to convert fiat to crypto and manage funds at market rates directly on your platform.
By integrating Striga’s KYC SDK into your app, you can begin onboarding European users who can then deposit, withdraw, buy, sell, and spend cryptocurrencies securely. Upon verification, users receive a default wallet featuring accounts for multiple currencies. Transactions are further streamlined by assigning each user a unique, dedicated crypto address, facilitating secure blockchain interactions.
To enhance user accessibility, offer exchange wallets equipped with vIBANs and branded crypto cards, both physical and virtual. These linked accounts empower users to make real-time crypto payments, with amounts deducted seamlessly from their balances, enabling crypto as an everyday payment option.
Key Considerations for Launching a Fiat-to-Crypto Onramp Platform
When rolling out your crypto onramp platform, keep these two factors in mind:
Compliance with Legal and Regulatory Requirements
It’s essential to be well-versed in the regulatory landscape of your operational region. Depending on your location, you may need specific licenses, and legal advisors can help ensure that you meet these requirements.
Strong KYC/AML Framework
For seamless and secure operation, implement robust KYC/AML processes to verify user identities. This helps prevent fraud and aligns your platform with industry standards for user safety and legal compliance.