In the US (the most valuable fiat-to-crypto market), onramp is about fraud. 

Specifically:

1. Stolen payment method fraud
2. "Friendly" regret-based (i.e. price goes down) fraud

It's different than e-commerce fraud since doesn't require a physical shipping address (you can use spoofed KYC and get the good you're purchasing if it's crypto).

You're also delivering the asset instantly and in a non-reversible way.

And then you have a chargeback risk 30+ days later.

It's a problem that requires a specific consumer data set and proprietary machine-learning model.

Can Stripe build one here? Yes. Does that happen quickly? No.

stripe just assembled the first stack that circumvents CEXes entirely

before embedded wallets, apps were at the mercy of external wallets

privy flipped the model. they empowered apps to own the relationship with users

but CEXes still provided the best onramp, and so the

Austin Marrazza

In the US (the most valuable fiat-to-crypto market), onramp is about fraud. 

Specifically:

1. Stolen payment method fraud
2. "Friendly" regret-based (i.e. price goes down) fraud

It's different than e-commerce fraud since doesn't require a physical shipping address (you can use spoofed KYC and get the good you're purchasing if it's crypto).

You're also delivering the asset instantly and in a non-reversible way.

And then you have a chargeback risk 30+ days later.

It's a problem that requires a specific consumer data set and proprietary machine-learning model.

Can Stripe build one here? Yes. Does that happen quickly? No.

https://x.com/realitywarp/status/1932907314937246128

How does Coinbase offer no KYC and 0% fees for USDC onramps? Is their fraud detection just that good?

I believe Coinbase already uses KYC ML through multiple vendors. Ramp uses Alloy. All they need is an email or phone number. It's super easy nowadays to implement this. 

Google just bought Wiz for 32 billion. Wiz does AI identity security. 

No one has talked about that acquisition at all lol.

I believe Coinbase already uses KYC ML through multiple vendors. Ramp uses Alloy. All they need is an email or phone number. It's super easy nowadays to implement this. 

Google just bought Wiz for 32 billion. Wiz does AI identity security. 

No one has talked about that acquisition at all lol.

http://alloy.com/

Political climates of yore. That's changing now.

GENIUS Act advanced yesterday with a 68-30 vote.

If its so easy why have none of the other onramps done it? I don’t understand why MoonPay and stripe need 5% fees