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Ankr Integrates TransFi’s Fiat Onramp/Offramp Solutions with AppChains for Enterprises and Web3

Published on
August 2, 2023
Written by
TransFi Team
Read time
4 Min
Product Updates

TransFi Team

Ankr has collaborated with TransFi to integrate fiat onramp/offramp solutions into its AppChains product, aiming to simplify the user experience and attract millions of potential new users for enterprises and Web3 apps. With Ankr’s AppChains, any enterprise or Web3 project can now launch its own fully customizable blockchain, offering enhanced scalability and user experience. TransFi’s integration further enhances the user experience by removing friction in the consumer onboarding process of the apps built on top of them.  

Kev Silk, Product Manager Ankr AppChains, said: “By integrating with TransFi, we’re unlocking a wealth of new value for the AppChains product, equipping our clients with a powerful feature within their dApp / business that will attract the non-crypto experienced user base. With seamless fiat onramp /offramps, Ankr AppChains will empower our clients to build in a way that removes the barriers to entry which have hindered widespread adoption of Web3, enabling a smooth transition for new blockchain users, resulting in steady, consistent adoption of crypto over time.”

Streamlining the Web3 Applications Experience

Through its collaboration with TransFi, Ankr has made an optional feature available to all AppChain projects that can enhance the Web3 application experience. With the fiat onramp, Web3 app users can now easily convert traditional fiat currencies, such as US dollars, Euros, and Yen, into cryptocurrency, and vice versa. This eliminates the need to purchase tokens on an exchange and potentially transfer them multiple times, streamlining the onboarding process for users.

In addition to the scalability and UX enhancements provided by AppChains, the fiat onramp/offramp feature further simplifies the experience of using Web3 apps, making it as easy as using any conventional website or mobile app. This is especially important for enterprises looking to attract customers with non-Web3 backgrounds, as simpler Web3 experiences have been identified as a key factor in winning over these demographics.

Ankr AppChain clients stand to benefit greatly from the new solution, which includes boosted ROI, enhanced token liquidity, improved customer conversion rates, and the ability to attract millions of potential users who are unfamiliar with Web3 experiences. The TransFi feature also offers numerous benefits to end users, such as time and cost savings on transactions and exchange fees.

Ankr serves as a comprehensive Web3 developer hub, offering a complete suite of tools for building Web3 apps and leveraging high-performance connections to over 30 blockchains. As an approved infrastructure partner for developing application-specific blockchains on ecosystems such as BNB Smart Chain, Polygon, and Avalanche, Ankr simplifies blockchain development for a wide range of use cases. Ankr enables project teams to create fully customized blockchain solutions through its AppChains offering, which includes everything from validators, RPC nodes, block explorers, testnets, staking platforms, and more to satisfy all infrastructure and engineering requirements.

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