The future of Off Ramping
How on-chain assets and value will converge with off-chain day-to-day financial demands
Converting digital assets into fiat currencies involves Web3 literacy, tedious manual work, high fees, low speed, and too many intermediaries to count (like banks and centralized exchanges — especially troublesome due to recent events and climate). Another problem that arises from the reliance on banks and CEXs is access. As in the case of underage participants who do not own a bank account or a CEX account.
Participation in on-chain economies is set to accelerate even more with high rates of unemployment, low local wages, and failing economies leading people, especially young adults to scour the web for financial opportunities. This is widely observed in Nigeria, India, Pakistan, Vietnam, the Philippines, and many others.
Until recently, high gas fees and low speeds of blockchain networks prevented the creation of sophisticated solutions to bridge on-chain ownership and local fiat. Now, with layer 2 scaling solutions and new blockchains like (Solana, Aptos, and Sui) — innovations in the off-ramping of digital assets are on the horizon.
Any person who has not been living on a mountaintop for the past ten years has heard about cryptocurrencies and their advantages. There are plenty of benefits when compared to the standard mediums of exchange. Today crypto is a valuable asset which is openly traded on multiple platforms and serves as a legitimate payment method. Yet, there is still a plethora of issues concerning cryptocurrencies and their status in the global economy, which hinder the onset of mass adoption. Some people remain hesitant to join the ranks of the crypto community. Thus, crypto-to-fiat exchanges become an indispensable tool for crypto investors. They ultimately let them utilize their funds to the full extent.
At Hypermatter Labs, build novel crypto tools to merge on-chain assets and value with local fiat. AirPay, the first product, bypasses and solves all the above-mentioned problems. Using AirPay, individuals and organizations alike can seamlessly pay for merchandise and services with their on-chain assets at any POS. We take the risk and effort to work with on-chain assets and provide users with credit in the form of local fiat. We collaborate with gaming studios, Defi projects, and DAOs to embed our protocol into their dashboards. This would create a smooth off-ramping experience. The only thing required from the user is to download our app and connect his on-chain wallet.
If you are interested in learning more about what the building at Hypermatter Labs, please reach out to.
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