With Dinara, crypto startups and VCs can now off-ramp from crypto to fiat quickly and seamlessly.
We are very excited to announce the launch of a much-needed product for crypto startups and VCs: an off-ramp solution that lets firms seamlessly convert stablecoins to their fiat bank account, allowing them to comprehensively manage their crypto-fiat operations from their Dinara accounts.
This is an important milestone in our mission to streamline the financial operations for businesses that manage and transact in crypto assets.
We share a vision for the future where crypto assets become part of the mainstream financial system. There is a significant and growing need for this kind of connective tissue that binds on-chain assets and activities with the traditional financial system. This has become even more clear following the market events earlier this year.
Companies should have access to the assets they need, when they need them. This is why our off-ramp solution will allow your financial operations team to convert between stablecoins and fiat directly from your Dinara account.
Vai Gupta, co-founder and CTO at Bonfire: “Dinara is committed to partnership and creating a best-in-class experience for clients. Working with the team has been a game-changer for us as we have been able to bring our digital assets on a more structured and secure platform. We were thrilled to work with them on this solution while further diversifying our financial portfolio.”
Dinara is partnering with an innovative partner that continues to build novel stablecoin conversion and issuance solutions.
Dinara customers will be able to access this off-ramp product in as little as a day, allowing them to tap into the efficiencies of stablecoins and crypto networks without sacrificing their fiat-denominated workflows. With Dinara, easily convert between several stablecoin options and fiat at any time and without onerous verification procedures.
Dinara’s off-ramp solution for businesses is built to make the life of your financial operations team easier.
Activating this solution is done directly on the Dinara platform, ensuring a KYC process that is quick and requires no redundant information submissions. We take significant measures to protect and encrypt customer information, and limit the sharing of that information to only when it is absolutely necessary operationally and never before confirming your team’s consent.
This is just one step in our mission to deliver the most seamless business banking services experience possible for crypto startups and businesses. We recognize that teams need to operate across both crypto and fiat, and often do so on a day-to-day basis. As such, we are continuing to work on bringing forward additional products that help us deliver the comprehensive platform that teams need.
As a crypto startup, you likely conduct a certain amount of business on-chain that is crypto-native (e.g., token-based revenue) while other parts of the business require a connection to the traditional finance system.
Many operational payments – including payroll, rent, and vendors – are still made using fiat. Our off-ramping solution makes this possible from any of your Dinara accounts.
Similar to startups, VCs have off-ramping workflows that demand this crypto-fiat bridge.
As one example, VC funds often need to liquidate their token positions to lock in returns for their limited partners (‘LPs’). Many of these LPs require or prefer cash-based distributions.
🇺🇸 What jurisdictions do you support?
Dinara supports US-based entities. Our off-ramp solution will require a US-based fiat bank account.
🏦 How many destination bank accounts can we use?
Each customer will be limited to one destination bank account at product launch. We will share if and when adding multiple bank accounts will be made possible.
🪙 Which digital assets are supported?
At launch, this solution will support crypto-to-fiat conversions for USDC on Ethereum, Polygon, and Avalanche. Shortly after launch we expect to support USDT on Ethereum as well.
🤔 How will I know that my assets were converted and transferred appropriately?
Once the transaction settles, customers will receive a confirmation email with transaction details.
If you are building in crypto and looking for a crypto-friendly banking services partner with off-ramp capabilities, we’d love to support you.
Dinara customers can now connect with Lido from their Dinara wallets
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