8 Step Checklist in Choosing a Good Fiat On-Ramp Payments Provider

XanPool provides two simple integration methods - Widget and Checkout Page integration.

 

Key Takeaways

  • The importance of simple and efficient fiat payment gateways with the increase in the adoption rate of cryptocurrency

  • Crypto-native businesses such as crypto exchanges and wallets use fiat-on ramps to extend their reach quicker

  • The local payment methods have 3x more penetration rate than credit cards in Asia

  • XanPool is an innovative fiat on-ramp that enabled Asian users to exchange fiat for crypto via local payment methods

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8 step checklist in choosing a good fiat on-ramp payments provider

The Global Crypto Adoption Trend

With the increasing popularity of cryptocurrencies in the modern world and major events like El Salvador accepting BTC as a legal tender, massive institutional investments, huge sales of NFTs, and metaverse hype in the community; 2021 is termed as “a year of cryptocurrency”.


The global crypto adoption has increased significantly by 880% in 2021 from 2020, according to a Global Crypto Adoption report. Out of the top 20 countries, 30% of them are based in Asia. Vietnam, India, and Pakistan clinched the top three positions.


Local Payment Methods in Asia

Local payment methods (a.k.a. alternative payment methods) had three times more penetration rate than credit cards in the Asia Pacific region in 2020. The study reveals that users from the Asia Pacific are more inclined toward using alternative payment methods than other modes of payment. However, the market in the region is quite fragmented. There is an absence of a centralized, consistent, and reliable APM service provider that caters to these particular needs.


8 Step Checklist in Choosing a Good Fiat On-Ramp Payment Gateway in Asia

Make sure they tick all these boxes:

  1. Easy onboarding - Quick sign-up process that guides users intuitively step by step.

  2. Automated KYC - Users can complete their KYC within a few minutes with clear instructions and expectations on approval updates.

  3. Access to cryptocurrencies - Allows users to access multiple cryptocurrencies including the leading digital assets.

  4. Direct access to altcoins - Allow users to access altcoins directly without having to convert them into intermediary cryptocurrencies, reducing intermediary costs.

  5. Support - Provides support in several countries across the globe.

  6. Local payment methods - Payment methods that are widely popular in separate regions, especially since there is no central payment system across Asian markets, unlike in the Europe or USA regions.

  7. Instant orders - Facilitates near-instant conversions of crypto into fiat and vice versa conversions within minutes

  8. Non-custodial - Does not take custody of users’ funds in the entire process of making fiat-to-crypto exchanges, no credit card fraud


XanPool: The Most Powerful Fiat-On Ramp in Asia


What does XanPool do?

XanPool is a fintech payments $27M Series A startup that builds its own interoperable digital payment infrastructure and liquidity networks that enable instant borderless payments. Under the XanPool startup, there is two distinct payments service XanPool and XanPay.


The crypto-to-fiat payments are powered via the XanPool platform and made it extremely easy for partners to extend their reach into the emerging Asian markets. XanPay is built on top of the same infrastructure focused on serving B2B cross-border payments service.


The following section will focus on XanPool's crypto-to-fiat technology how it unlocks the potential of Asian markets, the two integration methods, and check out some of the distinguished crypto-native partners that use XanPool.


XanPool's Payment Technology & Liquidity Network

To enter the fragmented Asian market is not an easy feat. A lot of the crypto businesses may opt to use credit card networks, but the reality is the traction of credit card penetration are much less than local payment methods, a.k.a alternative payment methods in the payments industry.


This is how XanPool powered the crypto space in Asia:

  • Provides over 15 Alternative Payment Methods (APMs) including interoperable e-wallets widely adopted in all the regions.

  • Short time-to-market, instantly unlocking the true potential of the market.

  • Increase liquidity and acquire new users via XanPool's network.

  • Seamless automated user KYC service.

  • Seamless API integration

  • Competitive rates that benefit both integration partners and the end-users.

  • Reduce time spent on the traditional paperwork process by 90%.

  • Eliminate expensive costs incurred with legacy financial network intermediaries.

  • Does not take custody of a user’s funds during the entire process. This further provides optimum security to a user’s funds.

  • Allows a user to buy or sell cryptocurrencies using their local currencies. For instance, a user from Thailand can use Thai Baht (THB) to buy Bitcoin or receive THB by selling Bitcoin.

  • Enables near-instant conversions of crypto into fiat. Users no longer have to wait for days or weeks for settlement.


Two Popular Integration Methods: Widget & Checkout Page

XanPool Widget Integration

XanPool's widget integration provides an easy way for third-party businesses to onboard and off-board their users using pre-built features. Crypto exchanges, wallets, and other crypto businesses can easily offer crypto-fiat payment solutions by integrating XanPool’s services through its widget. It is highly responsive and ensures smooth transactions for customers.


Test the demo here.


XanPool Checkout Page Integration

XanPool checkout page integration allows third-party businesses like crypto exchanges and wallets to build a customized interface for their users. REST API is the best crypto exchange API that allows exchanges and wallets to build their own, customized interface and makes crypto payments easy for customers. Crypto businesses can leverage XanPool’s services by integrating REST API to offer their customers an easy solution for making crypto payments.


See an example here.


Crypto-Native Partners that use XanPool


Here are the top partners that broke into Asian markets with XanPool.

Type of Crypto-Native Business

Top XanPool Partners

Cryptocurrency Exchanges

​OKX, ByBit, HitBTC, AAX, MoonXBT

​Cryptocurrency Wallets

Trezor, TORUS

DeFi

Plasma Finance

Payments Aggregator

On-Ramper


Enhance the Digital Currency Experience Globally

Cryptocurrencies are on their way to gaining mainstream adoption with several businesses joining the industry with innovative features. The need for simple, efficient, and cost-effective ways to convert fiat into crypto and vice versa is increasing more than ever.


XanPool not only facilitates its users to make crypto payments in local currencies but also assists crypto exchanges and wallets in developing their own interface to offer crypto payment solutions to their customers. This innovative platform supports local currencies and local payment methods and plays a major role in bringing digital currencies to global customers.