As cryptocurrencies are widely adopted by all the participants of the financial system, the demand for safe, simple, and transparent tools for their use grows as well. Big businesses are actively stepping into the crypto game. To meet their needs, a perfect tool for integrating digital assets into the field of traditional finance has to offer a lot – fast transfers, safe protocols, and an overall corporate-friendly structure. Most importantly, this tool needs to meet the requirements of banks and be trusted by them, as no legal business is able to function outside the banking system. Crypto ramp services were created to assist with that. Let’s break down how it works by taking Xpaid as an excellent example of one.
What Is an On-Ramp?
Onramping means converting fiat (traditional) currencies into crypto. For businesses, it’s needed for operations, investments, accepting and conducting crypto payments for services and goods.
What Is an Off-Ramp?
Offramping means converting digital currencies back into traditional money – the currencies of different countries to use them for multiple purposes outside the cryptosphere.
How Do Both Businesses and Banks Benefit From These Tools?
Crypto off-ramp and on-ramp services are beneficial for both sides of the link between banks and businesses. Businesses get smooth financial operations in crypto without the risks of freezing assets and loss of reputation among traditional financial institutions. Banks get an increased amount of clients and money liquidity in full compliance with regulatory requirements for transparency.
How Xpaid Works As a Regulated Provider of Crypto-to-Fiat Chain
Xpaid is a service for integrating crypto and fiat tailored for entrepreneurship needs that combines the best of both worlds of finance – stability and legal compliance from the traditional one, flexibility and multipurposeness from the innovative one.
It provides:
- Assistance in opening IBAN accounts for startups and high-risk businesses in Europe;
- Support of stablecoin settlements and OTC transactions;
- Strict AML and KYC requirements with special tools to bring all the necessary documents in order;
- Providing custody and liquidity to secure your assets;
- Fast money transfers due to established coordination with banks.
As Xpaid meets all MiCA standards, their clients get smooth, legal and safe money flow processes that never get interrupted by banks due to the good reputation of the service facilitating transactions.
On-ramps and off-ramps are the bridge between two worlds of finance the modern economy needs so much. Xpaid takes the best from each one and blends it into the best experience for their clients.
