Onmeta Monthly Update: Novemeber 2023

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

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

Bitgo Smart Contract Support for Offramp

Previously, offramp functionality was limited to wallet-to-wallet transfers. However, in response to the growing demand from our clients for advanced features like those offered by Bitgo and Biconomy-like smart contracts for ledger maintenance and improved transaction handling, we have taken a decisive step forward. 

Now, users can seamlessly execute offramp transactions via Bitgo smart contracts, marking a pivotal phase in our commitment to providing a more robust and versatile experience for our valued clients. This update ensures smoother and more secure offramp processes, aligning with the evolving needs of our user base.

Introducing React Native SDK

We're thrilled to introduce an exciting new feature in our latest product update – seamless integration for apps with the React Native framework. With our cutting-edge SDK, the integration process becomes a breeze, offering a smooth and efficient experience for developers. This enhancement addresses a common pain point for users during KYC (Know Your Customer) steps by resolving camera issues that may have previously hindered the process.

Now, mobile applications leveraging React Native can seamlessly incorporate our SDK, ensuring a cohesive and consistent user experience across platforms. The integration is designed to be user-friendly, requiring minimal effort from developers while providing maximum impact on the overall performance of KYC procedures. Say goodbye to frustrating camera glitches and welcome a more streamlined onboarding process for your users.

Native Circle USDC Support for Arbitrum and Polygon Chain

Previously, users had to rely on the bridged token USDC.e, which was not issued by Circle, to access USDC on Polygon. With the introduction of direct support for Native USDC on the Polygon chain, we have seamlessly integrated support for Native USDC, eliminating the need for indirect channels. This means a more streamlined and efficient experience for our users as they can now transact directly with Native USDC on the Polygon chain. 

To leverage this new feature, users are encouraged to enable and support the stable USDC on their Circle accounts. We believe this improvement will not only enhance the usability of our platform but also contribute to a more seamless and secure transaction environment for our valued users. Stay tuned for more updates as we continue to refine and expand our offerings to provide you with the best possible experience on Circle.

Improvisations in KYC and AML checks

Our team has diligently worked on refining the matching algorithm utilized during Know Your Customer (KYC) and Anti-Money Laundering (AML) checks to bolster our UPI/bank auto approval rates by an impressive 5-10%. This improvement not only streamlines the onboarding process for our users but also maintains the highest standards of security. 

The decision to optimize the matching algorithm stemmed from our commitment to addressing a common pain point—customer drop-offs during onramp journey, often attributed to discrepancies between the names on KYC documents and bank accounts. By minimizing such discrepancies, we aim to significantly reduce the number of drop-offs, ensuring a smoother and more seamless user experience. Your security remains our top priority, and this update reflects our dedication to balancing efficiency with the utmost protection for our users.

Dashboard Improvements

Date Filters

Clients can now seamlessly filter their order history based on a specified range of dates for both Onramp and Offramp orders. This means you can easily track and manage your transactions with precision, gaining a comprehensive view of your activity within the selected timeframe. We believe this update will streamline your workflow and provide you with the tools to navigate your order history more efficiently. Experience the power of customized order management and stay in control of your transactions like never before.

User Profile to monitor KYC

Admins can now seamlessly monitor and access comprehensive insights into User KYC, Bank, and UPI success/failure details directly from the dashboard. This empowers admins to optimize conversion rates by gaining valuable real-time information and allows for more informed decision-making. Additionally, this feature is designed to enhance user experience by providing a streamlined process for whitelisting UPI IDs and Bank accounts, facilitating smoother navigation and interaction within the platform. We believe this update will significantly contribute to the overall efficiency and user satisfaction within our system.

Partner Integrations

Fabwelt joined hands with Onmeta

We take extreme pleasure to announce that we partnered with Fabwelt— a gaming metaverse platform with high-end games, play-to-earn in-game NFTs and much more with one-of-a-kind gaming experience.

Onmeta is providing a seamless buying experience for the gamers at Fabwelt by allowing them to buy WELT token and mint NFTs. With user-friendly onramp solution provided by Onmeta, users can now effortlessly acquire WELT token and start their thrilling journey with Fabwelt. This hassle-free onramp experience will help users to start their exciting journey on Fabwelt. 

The partnership between Onmeta and Fabwelt is rooted in a shared vision of making web3 gaming accessible to everyone and making the buying experience more convenient and quick through robust and modular infrastructure. 

Bitsave partners with Onmeta

We are thrilled to announce that we partnered with Bitsave— a platform which offers a simple and safe way to invest in crypto assets through a range of supervised investment products.

Onmeta is providing a seamless buying experience for the users at Bitsave by allowing them to buy USDT. With user-friendly onramp solution provided by Onmeta, users can now effortlessly acquire USDT and start their exciting journey with Bitsave. This hassle-free onramp experience will help users to invest seamlessly on Bitsave.

The partnership between Onmeta and Bitsave is rooted in a shared vision of making cryptocurrency accessible to everyone and making the buying experience more convenient and quick through robust and modular infrastructure. 

Battle Infinity join hands with Onmeta

We are stoked to announce our partnership with Battle Infinity— a gaming platform with multiple P2E battle games integrated with the metaverse world called “The Battle Arena.

Onmeta is providing a seamless buying experience for the gamers at Battle Infinity by allowing them to buy IBAT token. With the user-friendly onramp solution provided by Onmeta, users can now effortlessly acquire IBAT and start their seamless journey with Battle Infinity. This hassle-free onramp experience will help users to play seamlessly On the platform.

The partnership between Onmeta and Battle Infinity is rooted in a shared vision of making web3 gaming accessible to everyone and making the buying experience more convenient and quick through robust and modular infrastructure. 

Community Engagement

Pi42 Web3 Future Summit

PiCON by Pi42, held on November 3, was a groundbreaking event where our founder, Bharath, shared invaluable insights into the realm of Web3 technology. He shared his insights on the regulatory scenario in India and takeaways for budding entrepreneurs from his journey. This immersive experience took participants on a deep dive into the intricate facets of the Web3 landscape, offering a comprehensive understanding of the latest trends shaping its future.

PiCON by Pi42 served as a nexus for like-minded individuals to come together, exchange ideas, and contribute to the ongoing evolution of the decentralized web. It was an enriching experience that underscored the significance of community collaboration in shaping the trajectory of Web3, ensuring that all involved were well-equipped to navigate the ever-changing landscape of this revolutionary technology.

Twitter Space

On November 30th, Onmeta hosted a captivating Twitter Space, titled "Web3 Unveiled: Decrypting Crypto's Future," featuring a distinguished panel of speakers. The lineup included industry experts such as Jyotsna from Bitget, Arjun representing Lifi Protocol, Akshit from LogX, Vikram of Giottus, Amarnath from OKX, Kavita from Soulverse, Neel as a notable crypto influencer, and Kuberan from Cypher Wallet. The virtual space witnessed an impressive turnout, with over 650 enthusiasts tuning in.

The event served as a knowledgeable journey, providing attendees with a profound understanding of the intricate dynamics and emerging trends that will undoubtedly influence the future of crypto space. The impressive turnout reflects the growing interest and engagement within the community, signaling a promising trajectory for the evolving world of Web3 and cryptocurrency.

Conclusion

In closing, the month of November has been filled with exciting milestones and memorable experiences for Onmeta. From rolling out much needed features to simplifying user experiences in the crypto world, we continue to innovate and empower users in the world of cryptocurrencies. With multiple product updates to having amazing networking experience, 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.