Onmeta Monthly Update: August 2023

Onmeta Monthly Newsletter, your go-to source for the latest news and updates on our Fiat On and Off Ramp solution. Here, we will be sharing updates on our new product releases and exciting partner integrations we did in the month of August. 

Onmeta is a revolutionary platform that enables users to easily and securely buy and sell cryptocurrency using fiat currency. We are constantly innovating and improving our platform to make the cryptocurrency buying process as simple and user-friendly as possible.

Product Updates

1. Live Chat Support for PHP users

We, at Onmeta, always make sure that our users and clients have the support from our team 24*7. To further enhance this, we have added a live chat support for the Philippines userbase. 

Earlier the live support was available for Indian users only but after our integration with Sky Mavis and DeFi Kingdoms, we have seen a huge traction from our customers in the Philippines.

Providing best customer support is our priority and adding a chatbot for the Philippines, alongside India, will help us to extend our support services to all the customers in the Philippines. Now users can get the status of their orders instantly via our chat support for both India and Philippines.

2. KYC via QR Code

To enhance user verification and security, we have made a major improvement in the Know your Customer (KYC) verification process. Now, users can complete the verification process by scanning a QR code from their mobile.

In some cases, if the link for KYC is not working on the app, then users can proceed with either of the following: users on desktop may scan the QR code via mobile or users on mobile can use the link provided to proceed with KYC completion. This feature will provide a seamless KYC process for platforms that might face difficulty in capturing images for KYC.

3. Integration with multiple partners to improve AML conversions

To reduce the risks of money laundering, we make AML (Anti money laundering) a major priority. This helps in providing a safe and secure environment for our customers to buy or sell the cryptocurrency token. We have integrated with multiple partners to smoothen the VPA verification process.

The VPA verification process mainly involves the verification of UPI and bank accounts. This provides a surety that the person whose bank account or UPI id is added is the same person who completed the KYC process. 

After this integration, the success rate has increased to more than 90% from 75% in case of unique users. The verification process at Onmeta is now completed in less than 10 seconds. This will ensure safety and security for all the users and our clients and protect it from any kind of money laundering. 

4. Generating Quotes in less than 3 seconds

To improve the on & off ramp experience for our users, we have improved the time span for quote generation. Earlier, the quote generation time took longer than usual but now the quotes for all the tokens are generated in less than 3 seconds. We have integrated premium APIs from various DEXs to smoothen the buying and selling process for our customers.

As the quote generation time is reduced drastically, this update will lead to seamless on & off ramp process and thus help in increasing the conversion rate exponentially. A quick and smooth process while buying or selling will also give rise to customer satisfaction, which is the foremost priority for Onmeta.

5. Improvements in the Dashboard

To enhance the experience of our clients, we have made certain improvements in our client dashboard. Now, our clients have all the control on how they want to customize the payment widget. This includes the choice of tokens, currency, payment method, and on & off ramp services.

This is one of the most important and unique features of Onmeta - customization of widget. With this update, we empower our clients and give them the control on how they want the widget to appear on their platform.

Blockchain Launches

zkSync support enabled

We are excited to announce that our platform now supports zkSync blockchain too. It is a layer 2 scaling solution on Ethereum which offers low gas fees and faster transactions. The main advantage of zkSync is people can withdraw their assets to layer 1 at any time. zkSync is as secure as the Ethereum mainnet. 

By adding support for zkSync, we empower developers to take advantage of this secure blockchain which is known for providing 100 times lesser gas fees and faster transactions, which are nearly 142 times faster than all layer 1 solutions.

Partner Integrations

1. Sky Mavis partnership with Onmeta

We are thrilled to announce our partnership with Sky Mavis - the visionary creator of Ronin Wallet & Axie Infinity. India & the Philippines are two of the largest gaming communities in the world & Sky Mavis has been at the forefront of the blockchain gaming revolution with Axie Infinity being the most popular web3 game and it recently announced non first-party games building on Ronin too. In order to make not just Axie but every game in the Ronin ecosystem accessible to a much larger user base, it has integrated Onmeta within the Ronin wallet apps & browser extension which power the games in the ecosystem. 

By adding OnMeta into the suite of fiat on/off ramp solutions, Ronin is going hyperlocal in these markets to advance the adoption footprint among the emerging markets. This is particularly important as users in these markets are more accustomed to the localized payment.

Bailey Tan, Director of Ecosystem Strategy at Sky Mavis said, "We are thrilled to be partnering with Onmeta to offer our users the ability to onramp using their preferred local payment methods. Together, we share a common vision of driving widespread adoption of blockchain gaming. Sky Mavis is committed to reducing friction for our users and will always strive towards new possibilities for our vibrant gaming community.” 

2. DeFi Kingdoms join hands with Onmeta

We take great pride in announcing our transformative partnership with  DeFi Kingdoms - a cross-chain fantasy RPG game with beautiful pixel art, tokenized resources, and Hero NFTs integrated with DeFi protocols. DeFi Kingdoms have the 3rd highest volume when it comes to web3 games and its gameplay is regarded very highly by avid gamers. It combines DeFi elements with usable NFTs in an immersive digital world.

The main idea behind Onmeta’s integration with Defi Kingdoms is to remove every possible friction point from the user experience to seamlessly onboard them to the game. Another capability that will be unlocked with Onmeta’s integration is the ability to do small transactions, as low as 100 INR or PHP which will make the game further more accessible. 

Bharath T, CEO, Onmeta said, “At Onmeta, we understand that lack of local payment methods support has prevented large gaming communities in India & the Philippines from participating in the web3 gaming revolution. Now they can use their favorite payment methods to play one of the most popular web3 games. We will continue to play our part in this revolution” 

Community Engagement

Web3 Conference 2023, Goa

Community is the key when it comes to web3 space. We are always looking for opportunities to engage with people in crypto space and one such opportunity was Web3 conference 2023, Goa.

Web3 Conference, conducted by GirlScript Foundation, is the most awaited event for the Indian blockchain community. Team Onmeta do not miss any chance of networking with the community and hence we landed in Goa on 11 August for this dynamic event.

With keynote speakers like Shusen Yang from OKX Wallet, Kasif Syed from CoinEx, Pratik Shigli from dydx, this year was a roller coaster ride of fun and knowledge. Learning from these speakers, networking with our friends from the community, sharing insights with the attendees and distributing Onmeta swags made the web3 conference a memorable moment.  

With 3000+ attendees this year, it is safe to say that people in India are adopting cryptocurrency. Future of India looks bright in terms of cryptocurrency, as more and more younger minds are coming up with some extraordinary ideas. New generation seems very much excited about this decentralized industry.

Here are some snippets from the amazing time we had in the conference:

Conclusion

In closing, the month of August has been filled with exciting milestones and memorable experiences for Onmeta. From expanding our blockchain integrations to revolutionizing the gaming process, we continue to innovate and empower users in the world of cryptocurrencies. With multiple product updates to having amazing networking experience at Web3 conference, we are now more determined on onboarding more people to web3 space and doing every possible thing for customers and client satisfaction. Here's to a future filled with further advancements, meaningful partnerships, and continued growth. Stay tuned for more exciting updates from Onmeta.