Key Takeaways
- OpenPayd will power compliant multi-currency on/off ramps for Altify’s more than 80,000 investors.
- The integration supports fiat deposits and withdrawals in EUR, GBP, and USD via SEPA, Faster Payments, and SWIFT.
- This move aims to eliminate a major friction point for users investing across tokenized real-world assets and digital currencies.
Table of Contents
Streamlining the Gateway Between Fiat and Digital Assets
OpenPayd and Altify are working together to create simple ways for Altify users to exchange their euros (EUR), British pounds (GBP), and U.S. dollars (USD) into digital assets through OpenPayd’s on/off ramp, which is integrated with Single Euro Payments Area (SEPA) and Society for Worldwide Interbank Financial Telecommunication (SWIFT).
Users of Altify will have direct access to OpenPayd’s on/off ramp for multiple currencies, removing one of the major challenges for investors who wish to take advantage of both traditional finance and tokenized markets, such as private credit, commodities, and cryptocurrencies.
Read also: Ripple Payments Powers RedotPay New Frontier with “Send Crypto, Receive NGN” Service
Building Trust Through Invisible Infrastructure
Altify has developed a seamless and easy-to-use interface for its customers to invest in multiple types of investments. If the funding process were slow, it could negatively impact Altify’s user experience. OpenPayd’s regulated solution takes care of all the complex compliance and operational functions, giving Altify clients what Sean Sanders refers to as “invisible efficiency“.
By using OpenPayd’s multi-currency on/off ramps, Altify will achieve the speed and reliability necessary to build trust among users and expand into Europe and other markets.
Read also: Mastercard Crypto Credential Expands to Self-Custody Wallets via Polygon
A Critical Piece for Mainstream Adoption
The establishment of a strong connection between traditional and modern financial systems through the creation of stable, high-quality gateways to all currencies is an important step towards ensuring that users have a solid foundation for utilizing innovative digital finance platforms, thereby generating substantial amounts of capital.
The deployment of sophisticated multi-currency on/off ramps is no longer a niche feature. The creation of seamless fiat gateways will play a vital role in driving mainstream adoption as tokenization of physical/real-world assets continues to increase.
FAQs
Why is the OpenPayd and Altify partnership important?
It reduces a major point of friction for investors. By making it easy to move money in and out using familiar banking methods, it lowers the barrier to entry for investing in tokenized assets, encouraging greater participation from a broader audience.
What are on/off ramps in crypto?
On-ramps are services that convert traditional fiat currencies (like USD or EUR) into crypto. Off-ramps do the reverse, converting crypto back into fiat for withdrawal to a bank account.
Which currencies are supported?
The multi-currency on/off ramps integration initially supports deposits and withdrawals in Euros (EUR), British Pounds (GBP), and U.S. Dollars (USD).
For more crypto mainstream adoption stories, read: Polymarkets and UFC Forge Historic Partnership to Fuel Fan Engagement
