Coinspeaker Uphold Launches Crypto Off-Ramp for Self-Custodial Wallets
Uphold, a leading global cryptocurrency broker, has announced an ambitious expansion to its payment platform, Topper. This strategic move introduces a groundbreaking off-ramp solution that promises to streamline users’ journey between digital assets and fiat currency.
As of December 4, Topper supports an impressive array of 232 cryptocurrencies, making it one of the most comprehensive platforms for converting digital holdings to real-world currency. The solution specifically caters to self-custodial wallets, decentralized exchanges (DEXs), and Web3 projects, ensuring users can freely manage their digital assets.
The introduction of this tool addresses a longstanding challenge for self-custodial wallet users. Traditionally, these wallets, including popular names like MetaMask, have offered limited options for off-ramping digital assets. Topper’s new feature bridges this gap, allowing users to sell crypto and withdraw fiat directly to debit cards.
Solving Long-Standing Pain Points in Crypto
Crypto on-ramps and off-ramps are critical tools for integrating the digital economy with traditional finance. While on-ramps enable fiat-to-crypto transactions, off-ramps facilitate the reverse process. Despite their importance, off-ramps for self-custodial wallets have lagged behind in development.
Hardware wallets, for instance, often provide limited or cumbersome off-ramp options. A notable example is Ledger, which, as of September, offered just one method for withdrawing fiat. Frankie Picciano, Topper’s global head of sales, emphasized the significance of this innovation, stating:
“Topper now supports the full cycle, not just accepting digital payments, but also enabling smooth and flexible off-ramps so users can exit the digital economy when they choose.”
Unlike centralized exchanges, self-custodial wallets grant users full control over their private keys and assets. This autonomy reduces reliance on third parties but demands greater personal responsibility for securing funds. Uphold’s new feature aims to make managing and accessing these assets simpler and safer.
Expanding Wallet Support and Partnerships
Topper’s off-ramp solution is accessible via its website, and Uphold has already begun rolling out support for various wallets. Among the first to benefit is the XRP wallet Xaman. However, the integration doesn’t stop there. Uphold Enterprise CEO Robin O’Connell revealed that partnerships with Ledger, Trezor, Changelly, Onramper, Meld, and Vespr Wallet are in progress and expected to go live in the coming weeks.
O’Connell highlighted the importance of the tool by emphasizing how decentralized exchanges and self-custodial wallets enable users to withdraw digital assets through blockchain technology. However, many lack straightforward options for converting digital assets into fiat currency and transferring funds directly to bank accounts.
“DEXs and self-custodial wallets will allow users to withdraw digital assets via the blockchain, but not all have an easy way to convert the digital assets to fiat and send them instantly to your bank account,” said O’Connell.
A Global Reach with Local Precision
Uphold’s off-ramp tool boasts an extensive global footprint, covering more than 230 countries. It aims to serve regions often overlooked by similar services, including Latin America, Africa, and the Asia-Pacific. By leveraging Visa Direct and Mastercard Send, the platform ensures instant payouts to users’ debit cards linked to their bank accounts.
In order to comply with international regulations, Uphold collects and verifies users’ personal information, including legal names, addresses, government IDs, and other necessary details. While this may raise privacy concerns for some, the approach aligns with standard Know Your Customer (KYC) practices in the financial sector.
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Uphold Launches Crypto Off-Ramp for Self-Custodial Wallets
