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Researching Potential Fiat-to-Crypto On-Ramp Providers for Optimal Selection #3

Open laurianemollier opened 2 months ago

laurianemollier commented 2 months ago

Context:

Within our backend infrastructure, a crucial decision point arises regarding the payment workflow for Bounties. While the majority of users preferring to pay Bounties lean towards Fiat currency, our commitment to maintaining full decentralization mandates the utilization of crypto as a payment method. Hence, we require an On-Ramp system to seamlessly bridge the gap between fiat and crypto currencies.

Task:

The task at hand involves compiling a comprehensive list of potential on-ramp systems, accompanied by an analysis of their respective pros and cons, culminating in the selection of the optimal solution.

Requirements:

  1. Smooth UI/UX Integration: The chosen system must seamlessly integrate with our platform's user interface and ensure a frictionless experience for users.

  2. Compliance with European Regulation: Given our market focus outside the US, adherence to European regulations is paramount to ensure legal compliance and user trust.

  3. User Information Collection and Billing: It's essential for us to gather comprehensive user data, including email addresses, payment details, and additional information, to better understand our user base and enhance our services accordingly. Additionally, the selected on-ramp system should facilitate the registration of all payment details, enabling us to issue bills to the payer efficiently.

  4. Integration with Escrow Account: The selected system should facilitate the transfer of funds into an escrow account.

  5. Lower Fees: Among the selection criteria, prioritize on-ramp systems that offer lower transaction fees.

  6. Payment Compatibility: Ensure compatibility with a wide range of payment methods, including credit cards and bank transfers. Providing diverse payment options enhances accessibility and accommodates varying user preferences, thereby fostering a more inclusive and user-friendly payment experience.

Hint:

Two providers are already known.

  1. MoonPay with doc of on-ramp
  2. Mt Pelerin

While considering these, explore additional options to ensure a thorough evaluation.

thierryOse commented 3 weeks ago

Hi, Stripe can do it: https://docs.stripe.com/crypto https://docs.stripe.com/crypto/integrate-the-onramp (Embedded onramp crypto) https://docs.stripe.com/connect/crypto-payouts