AllianceBlock, Onramper join forces to simplify fiat conversion and make DeFi more accessible to all
The fintech industry is always changing and continues to evolve. In the last five years, decentralized finance (DeFi) has changed the way in which people gain access to financial services as mainstream users look for alternatives to traditional banks and financial institutions.
DeFi provides a new way for users to lend, borrow and save while bypassing traditional gatekeepers of finance such as banks and financial institutions. Now, one startup is on a mission to make DeFi more accessible to e everyone.
Today, AllianceBlock, a DeFi project and foundation building seamless gateways between TradFi and DeFi, announced it has partnered with fiat-crypto onramp aggregator Onramper to greatly simplify the user onboarding experience for participating in DeFi. The partnership will also help to simplify fiat conversion and make blockchain and DeFi more accessible for builders, developers, and end users.
With this strategic partnership, users of AllianceBlock’s solutions will be able to quickly acquire the tokens they need without having to leave the platform and have a truly seamless experience. In addition, AllianceBlock will work with Onramper to create a frictionless payment gateway for Data Tunnel and break down barriers to DeFi.
As part of the collaborative effort, the two companies will also explore the possibilities of integrating AllianceBlock TIDV (Trustless IDentity Verification) into Onramper’s platform as an identity solution.
As a fiat-crypto onramp aggregator, Onramper automatically connects to all major fiat on-ramps in one hassle-free step and selects the best conversion price. Over 200 cryptocurrencies are supported, in addition to 23 traditional payment methods, including credit cards, bank transfers, Google Pay, Apple Pay, and Alipay.
Commenting on the partnership, AllianceBlock Co-Founder and CTO Matthijs De Vries said: “To attract new users who are not crypto natives, we must offer an intuitive and streamlined user experience. AllianceBlock’s partnership with Onramper will empower our customers to access over 200 tokens within a few clicks, using any common payment method, through a consistent user interface. This partnership reduces a significant barrier to adoption, users can participate in the AllianceBlock ecosystem without the hurdles or complexity of setting up wallets, storing private keys or seed phrases, having enough native tokens to pay for gas fees, etc., therefore enabling easier access to our products for users who are not crypto-savvy. We greatly look forward to working with the Onramper team to take advantage of further opportunities for collaboration and growth.”
Onramper’s widget will be integrated across the various platforms in the AllianceBlock suite of solutions. This will enable users to obtain the tokens necessary to engage in specific activities or projects — such as participating in liquidity mining and staking campaigns on DeFi Terminal or providing capital in fundraising rounds on Fundrs — and convert back to fiat at a time of their choosing.
Thijs Maas, Co-Founder and CEO of Onramper, added: “Capital markets are an important piece of the financial system. AllianceBlock’s decentralized approach will bring valuable opportunities to the whole crypto ecosystem, and providing an intuitive fiat on-ramping solution will play a big part in solidifying this value proposition. We’re excited to join them on their mission and look forward to contributing together to the growth of the Web3 economy.”
The Amsterdam-based Onramper was founded in 2020. The startup has raised $6 million in funding and supports over 23 payment methods in 180+ countries.