Onramp.money, a major payments service provider for crypto players in India, has announced an integration with Jump.trade, a leading NFT marketplace in Asia.
Via onramp.money, users on the platform will now be able to purchase and trade non fungible assets and digital collectibles using INR, simplifying the process of onboarding the untapped masses onto Web 3.0.
According to Cointelegraph, by April 2022, the Indian Web 3.0 ecosystem had clocked $1.3 billion in funding, with around 60% of Indian Web 3.0 startups having become global with regard to their operations. Though the emerging space has garnered sufficient initial attention, the challenge faced by the industry is converting new users. Onramp’s services, which enable a simple three-step transaction, removes the tedious steps of creating a crypto wallet. Further, by avoiding merchant gateways, Onramp.money considerably reduces the transaction costs for traders on the platform.
Gaurav Dahake, CEO, Onramp.money said, “It is crucial to build Web 3.0’s infrastructure in a simultaneous manner – increase not just safety and security in the ecosystem but also scale up on making it more accessible to the everyday person. This is what our vision at Onramp corresponds to. We are working towards democratizing Web3 and by partnering with leading platforms such as Jump.trade, our purpose is to provide all tech and background support needed to increase their sales.”
Kameshwaran Elangovan, COO, GuardianLink (Jump.trade) said, “Our goal in partnering with Onramp was to get more users to trade in non-fungible tokens on our platform, which would undoubtedly increase the versatility of payments for our users.” Given the general public’s familiarity with UPI, we are confident that the new integration with Onramp will be the most simple and easy to use for transacting.
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Non-fungible tokens are a mass offering and one of the most essential components of the
Digital/web3 ecosystem. Jump.trade, a GuardianLink brand, is well-known for launching a variety of game NFT drops and celebrity NFT drops. Onramp simplifies the trading process for Jump.ramp users by allowing payments via UPI for their Indian audience. This means that as we enter a new technological year, Indian traders on the platform will be able to sell NFTs and instantly receive INR in their bank account via UPI/IMPS. Onramp.money is compatible with Ethereum (ETH), Solana (SOL), Binance Smart Chain (BNB), and Polygon blockchain transactions (MATIC).
Onramp is a fiat-to-crypto payment gateway that helps users seamlessly convert fiat currency into desired cryptocurrencies. Onramp offers APIs to developers to onboard users to buy cryptocurrency with FIAT directly inside any website/app. All the KYC, regulatory, compliance, fiat payment methods, and wallet management are handled at Onramp’s end. The platform’s services are live and ready to onboard Indian users with direct fiat-to-crypto conversion using UPI or IMPS, with Crypto-to-fiat flow also to be introduced soon.