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TransFi joins the list of fiat-to-crypto on-ramps supporting Fuse. Users can now use it to purchase FUSE and USDC on Fuse from their bank accounts.
One of the focus areas of the Fuse team this year has been on bringing onboard companies and projects that can enable other projects and real-world businesses and users to adopt Fuse. One type of enabling tool that is of particular importance for adoption is platforms making it possible for users to acquire digital assets on the blockchain of interest using their fiat funds.
Today, we are happy to announce that in addition to Ramp Network and Xanpool, users can bring their funds to the Fuse Network blockchain via fiat-to-crypto on-ramp TransFi.
Asia-focused on- and off-ramp
TransFi was initially launched to bring Web3 access to the millions of users in Asia in a way that is easy, offers local payment methods, excellent conversion rates, and low processing fees. Overall, TransFi currently offers on-ramp services to users from 160+ countries worldwide.
TransFi’s technology enables on-ramps directly from users’ bank accounts via debit and credit cards, including Visa and Mastercard, and from bank e-transfers. Cards carry a processing fee of 4%, while bank transfers are 1%.
Currently, TransFi’s crypto-fiat off-ramp functionality only applies to Bitcoin’s native BTC. The company’s primary focus is on Asia, which has a massive population still underserved by the global financial system. Through their fiat-to-crypto widget, all regulatory compliance and licensing are handled for the applications integrating it.
Additionally, as many have been in the crypto space for some time now, the typical KYC methods are often clunky, awkward, and a painful, time-consuming process. This friction is bypassed by TransFi, which offers a smooth and seamless onboarding process that adheres to rigorous E-commerce and Web3 design standards.
How Fuse integrates TransFi
TransFi has now added support for the Fuse Network blockchain on its on-ramp tool. The supported assets on Fuse are the Fuse-native FUSE token and the US Dollar-pegged USDC stablecoin. The minimum on-ramp amounts are US$ 125 for FUSE and US$ 500 for USDC.
Users can obtain those assets on Fuse via TransFi directly from their bank accounts using one of the supported transfer methods.
The joining of forces with TransFi will help make Fuse’s dynamic ecosystem more accessible to users worldwide, especially in Asia, which is a leading region in crypto adoption.
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