Overview and Architecture

Swiftramp provides a fast offramp experience for selling cryptocurrencies for fiat.

Why Choose Swiftramp for Offramps?

Swiftramp provides a secure, reliable, and user-friendly solution for businesses to enable fiat offramps, allowing seamless conversion of crypto assets into fiat currency. Here are the key reasons to choose Swiftramp Money:

Competitive Conversion Rates

• Swiftramp Money offers some of the best conversion rates tailored to the Indian market.
• Supports multiple fiat currencies, including INR, GBP, and EUR.

Regulatory Compliance

• Built-in KYC checks and tax compliance services simplify regulatory alignment and tax reporting.

Security and Reliability

• Advanced encryption, fraud prevention, and real-time transaction monitoring ensure secure and uninterrupted transactions.

Comprehensive Payment Support

• Multiple payment methods are supported, including UPI, IMPS, NEFT, and RTGS.
• Multi-currency transactions enable businesses to cater to diverse user needs.

Note: Currently, Swiftramp’s offramp services are limited to Indian bank accounts, with plans to expand to additional jurisdictions and currencies.

Transaction Flow

Transaction Initiation

• The user initiates an offramp request via the API or SDK.

KYC Check

• The system verifies the user’s KYC status. If incomplete, additional details must be provided.

Conversion

• Crypto is converted to fiat at competitive rates upon successful KYC verification.

Fee Deduction

• Applicable fees are calculated and deducted before the final payout.

Outgoing Payment

• Fiat is transferred to the user’s bank account using the selected payment method.

Status Update

• The system updates the transaction status at each step, providing real-time tracking and confirmation.

Key Components

API Layer

• Provides endpoints for all key operations, including initiating transactions and managing payouts.

KYC and Compliance Module

• Handles regulatory checks, ensuring compliance with KYC and AML standards.

Conversion Engine

• Converts crypto to fiat using real-time rates, offering competitive pricing.

Payment Processor

• Manages outgoing payments to user bank accounts via UPI, IMPS, NEFT, or RTGS.

Monitoring and Logging

• Tracks transactions in real-time, ensuring full visibility and traceability.

Security Layer

• Protects transactions with encryption, HMAC authentication, and fraud prevention mechanisms.

Security Features

Encryption

• Safeguards user and transaction data both at rest and in transit.

HMAC Authentication

• Secures API endpoints against unauthorized access.

Fraud Detection

• Monitors and flags suspicious activities in real-time.

Conclusion

Swiftramp Money’s offramp solution provides businesses with a secure, compliant, and developer-friendly platform for enabling fiat withdrawals. With robust features, seamless integration, and top-notch security, Swiftramp ensures a superior experience for both businesses and users.