Onramps and Offramps

FRWA plans to integrate with a range of onramp and offramp providers for our mainnet launch, enabling users to onboard directly from fiat currencies to FRWA and allowing asset issuers to securely convert their proceeds back into fiat. We are currently in discussions with several of the leading onramp and offramp providers in the industry, so stay tuned for our official partnership announcements.

What Are Onramps and Offramps?

Onramps: These services facilitate the conversion of fiat currencies like USD or EUR into cryptocurrencies such as USDT or USDC. Onramping is typically one of the initial steps in a user's journey after setting up their crypto wallet, as transactions cannot be made without having tokens to pay for transaction inclusion in the next block. In Bitcoin, users pay transaction fees to miners to maintain the chain and cover electricity costs, while on Ethereum and similar chains like FRWA, users pay gas fees to validators to compensate for computational and storage resources. Without onramping ETH onto FRWA, users cannot engage with the chain at all.

Offramps: These services execute the reverse process, converting cryptocurrencies like BTC or ETH back into fiat currencies such as USD or EUR. Consequently, offramping represents the final step in a user’s crypto journey. It is essential for asset issuers on FRWA, especially those involved in RWA projects looking to raise capital on-chain, to have a stable, trusted, and secure offramp provider. This allows them to effectively deploy their proceeds in productive real-world enterprises off-chain.

Onramps and Offramps on FRWA

For our mainnet launch, FRWA will collaborate with several leading onramp and offramp providers. These partnerships will offer users around the globe flexible options to onboard directly to FRWA from a variety of fiat currencies, including:

• Direct bank transfers

• Credit card and debit card payments via Visa and Mastercard

• Apple Pay

• Google Pay

• Wallet Apps

Best Practices

• Regularly assess the security measures implemented by selected onramp and offramp provider.

• Stay updated on any changes to fees and transaction limits associated with chosen currencies.

• Ensure all necessary documentation is prepared to pass KYC checks when using onramps or offramp services.

• Monitor regulatory developments that may impact onramping and offramping in different regions.

By utilizing onramps for direct onboarding to FRWA and offramp services for secure offboarding, users will experience a smooth and safe conversion process between fiat and cryptocurrencies.