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Banxa integrate Sui, plans for off-ramps launch in progress

Press Releases
Banxa integrate Sui, plans for off-ramps launch in progress

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

GRAND CAYMAN, Cayman Islands, Jan. 29, 2024, Chainwire

Banxa, a crypto payments infrastructure provide, will add SUI to its platform.

Banxa integrate Sui, plans for off-ramps launch in progress - 1

The integration will increase access to the Sui blockchain, thanks to a suite of Banxa’s global and local payment methods, which have processed over $3 billion in transactions since its launch in 2014.

Additionally, Mysten Labs’ Sui Wallet will provide users the opportunity to purchase SUI through Banxa’s on-ramp and once fully integrated, to utilize its off-ramp solution. 

For a limited time, there will be no transaction gateway fees for buying SUI on Banxa. Accordingly, users of some of the most established web3 platforms such as Ledger, OKX, and MetaMask, will have seamless, and initially, feeless, access to Sui.

“For a long time, fiat on and off ramps have been a source of friction for the crypto industry. That’s why Banxa, a platform that removes that friction, joining the Sui ecosystem is so important,” said Greg Siourounis, managing director of the Sui Foundation. “I am excited about the technical possibilities, broad access, and optionality that this integration will offer to the Sui community while simultaneously ensuring KYC compliance at each step.”

Following this integration, developers building on Sui will now be able to leverage features provided by Banxa to add more functionalities and compliance measures to their dapps.

For example, the NFT checkout solution will provide an enhanced NFT selling experience for end users.

Additionally, developers can improve the overall user experience by reducing friction in the onboarding and off-boarding processes. Users are more likely to engage with a dapp that offers a smooth and convenient transition between fiat and crypto.

“We think Sui is the most powerful and performant blockchain in the space,” said Holger Arians, CEO of Banxa. “The rapid growth of the Sui ecosystem since its mainnet launch is something we’re excited to tap into to advance our central objective of increasing the adoption of blockchain technology ”

Contact

Sui Foundation
[email protected]

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