- Cabital announces the launch of Cabital Connect
- Cabital Connect functions as a secure fiat on-ramp and off-ramp gateway for crypto exchanges
- Bybit becomes the first to integrate Cabital’s fiat on-ramp solution into their platform
Digital assets institution Cabital unveils its secure fiat on-ramp and off-ramp solution for crypto exchanges — Cabital Connect. Cabital Connect aims to serve as a gateway for crypto platforms that allow users to utilize fiat currencies to buy and sell cryptocurrencies.
When cryptocurrency companies partner with Cabital Connect, their consumers will have access to a high-quality service that allows them to buy cryptos like Bitcoin, Ethereum, and Tether with ease.
Cabital Connect has partnered with several industry-leading cryptocurrency exchanges to offer consumers the best possible rates. As a result, if its partners’ consumers acquire cryptocurrency through Cabital Connect, they will not have to pay high gas fees.
Raymond Hsu, Co-Founder and Chief Executive Officer of Cabital reaffirm the platform’s objectives.
“Cabital Connect’s purpose is to provide a seamless experience for people around the globe to buy and sell cryptocurrencies through our unique and secure off-chain solution between both wallets. Cabital Connect offers cryptocurrency exchanges a safe and compliant fiat-to-crypto gateway for their users to buy and sell cryptocurrencies.”
Hsu adds that they are looking forward to providing many cryptocurrency exchanges with a new and exciting way of helping their users on and off ramp with fiat currencies.
Cabital reduces the high gas fees by using an off-chain settlement mechanism that enables it to transfer the crypto from its platform to users’ own wallets. Cabital’s off-chain settlement system saves its partners’ users significant amounts of money on each transaction.
Cabital believes its KYC processes allow its partners’ users to be onboarded quickly with them. This gives them access to their interest-bearing crypto deposit products and traditional financial institution connectivity.
Cabital Connect’s on-and-off-ramp technology allows users to convert fiat currency and cryptocurrencies utilizing euro and pound sterling bank transfers smoothly. Notably, Bybit has become one of the crypto exchanges to incorporate Cabital’s fiat on-ramp solution into their platform as announced on February 8, 2022.
Later on, Cabital Connect will continue to add significant fiat currencies to its capabilities, including US dollars, Swiss francs, and Brazilian reals. With this, they expect to see more individuals acquiring cryptocurrencies.