Uphold Expands Payment Platform with New Off-Ramp Solution for Crypto Users
Uphold, a global cryptocurrency broker, has announced an expansion of its payment platform, Topper, introducing an off-ramp solution to facilitate the conversion between digital assets and fiat currency.
As of December 4, Topper supports 232 cryptocurrencies, offering a comprehensive platform for converting digital holdings to real-world currency. This tool is designed for self-custodial wallets, decentralized exchanges (DEXs), and Web3 projects, allowing users to manage their digital assets effectively.
The new feature addresses challenges faced by self-custodial wallet users, who previously had limited options for off-ramping digital assets. Topper enables 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 essential for integrating the digital economy with traditional finance. While on-ramps allow fiat-to-crypto transactions, off-ramps facilitate the reverse. Off-ramps for self-custodial wallets have lagged, with hardware wallets like Ledger providing limited withdrawal methods.
“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,” stated Frankie Picciano, Topper’s global head of sales.
Self-custodial wallets grant users control over private keys and assets, reducing reliance on third parties while increasing personal responsibility for fund security. Uphold's new feature aims to simplify asset management and access.
Expanding Wallet Support and Partnerships
Topper's off-ramp solution is available via its website, with support for various wallets already underway. The XRP wallet Xaman is among the first to integrate. Uphold Enterprise CEO Robin O’Connell announced partnerships with Ledger, Trezor, Changelly, Onramper, Meld, and Vespr Wallet expected to launch soon.
O’Connell emphasized that while DEXs and self-custodial wallets allow withdrawals via blockchain technology, many lack straightforward options for converting digital assets to fiat and transferring funds 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 covers over 230 countries, targeting regions often overlooked by similar services, including Latin America, Africa, and the Asia-Pacific. Utilizing Visa Direct and Mastercard Send, the platform provides instant payouts to users' debit cards linked to their bank accounts.
To comply with international regulations, Uphold collects and verifies users’ personal information, including legal names, addresses, and government IDs. This aligns with standard Know Your Customer (KYC) practices in the financial sector, despite potential privacy concerns.