Halo Wallet, a leading Web3 social wallet, is thrilled to announce a partnership with Swiss FinTech company Fiat24 to provide regulated off-ramp solutions to Web3 users in over 80 countries. The partnership aims to connect Web3 to the real-world financial system through secure, low-cost and convenient payment services.
Halo Wallet and Fiat24 collaborate to provide regulated fiat off-ramp solutions
Through this integration, Halo Wallet users will have the ability to swiftly sell their crypto assets and convert them into fiat currency. Fiat24 is the first fully regulated financial institution offering solutions that support fiat payments and provide access to Web3 and crypto services. Operating under a Swiss fintech license and governed by Swiss banking law, Fiat24 leverages the benefits of the layer-2 rollup blockchain Arbitrum, revolutionizing the global payments landscape. Fiat24 has proposed a groundbreaking idea of Web3 bank, where all user assets will be soul-bound with their Swiss IBAN NFT. This is in stark contrast to traditional centralized payment solutions, which truly aligns with the principles of a decentralized society (DeSoc).
By partnering with Fiat24, Halo Wallet users across 80+ countries can open Swiss offshore bank accounts at no cost, and EU residents are eligible for Halo Visa debit cards compatible with Apple Pay and Google Pay. The off-ramp feature by Fiat24 ensures swift processing, no minimum withdrawal limits, and low transaction fees of just 1% for fiat deposits and withdrawals. This rate is exceptionally advantageous, notably lower than the industry average of around 5%. By maintaining such a competitive fee structure, Halo Wallet and Fiat24 provide a cost-effective solution that allows users to retain more of their funds while benefiting from the flexibility of cashing out cryptos.
Halo Wallet, renowned for its capabilities to monetize the data value of a social network, serves as a gateway to the Web3 world for global users within the SocialFi ecosystem. In partnership with Fiat24, Halo Wallet has further expanded its capabilities, breaking new ground in the integration of Web3 profits and real-world usability. This collaboration enables users to seamlessly convert their digital earnings in Web3 into fiat currencies, bridging the gap between the Web3 economy and everyday spending. With this, Halo Wallet is not just a gateway to the SocialFi future of data monetization for users, but also a platform that enhances the real-life utility of digital assets.
"Off-ramp solutions are highly requested by wallet users, and our collaboration with Fiat24 meets this demand," said Jeff, CEO of Halo Wallet. "As the only fully regulated financial institution that enables users to cash out crypto directly via the wallet, Fiat24 caught our attention early on. With the integration of Fiat24's revolutionary global payment solution, we can provide users with greater flexibility, allowing them to convert their cryptocurrencies into fiat currency whenever they desire at low rates of 1%. Moreover, this partnership propels the Halo Wallet ecosystem to a new level of mainstream-compatible accessibility, enabling us to onboard more users.”
The partnership aims to facilitate crypto mass adoption
Looking ahead, as the blockchain and cryptocurrency industry continues to expand, it's imperative to acknowledge the vital role of ramp solutions in driving its success. The collaborative efforts of Halo Wallet and Fiat24 to provide regulated off-ramp solutions represent a significant stride in reducing entry barriers for newcomers to engage in the token economy and enabling Web3 users to cash out their cryptos at the low cost of 1%. This, in turn, paves the way for blockchain technology to edge closer to widespread adoption.
About Halo Wallet
Halo Wallet is a leading Web3 social wallet that utilizes its financial capability to monetize the data value of a social network. It aims to be a portal for global users in the SocialFi ecosystem by aggregating wallet’s activity across various protocols and turning them into a human friendly social feed. Halo Wallet ensures users have an intuitive interface to manage digital assets, track DeFi portfolios and discover market trends without leaving the app.