Kresus and Coinflow Labs’ off-ramp service allows USDC cashouts up to $100,000, free of any fees.

Kresus “SuperApp” crypto wallet has announced a partnership with blockchain technology firm Coinflow Labs, launching an upgraded off-ramp service targeting the prevalent issues in cryptocurrency conversions. The service allows for USDC cashouts without the imposition of fees, up to an amount of $100,000, in all 50 United States states.

A longstanding issue for many in the crypto arena is complicated and often costly procedure of transitioning digital assets into fiat. The pitfalls – ranging from prohibitive fees and extended processing times to inflexible withdrawal caps – have posed consistent challenges for users.

With Kresus’s newly minted service, users can now process USDC transactions across key platforms such as Polygon, Solana, and Ethereum without the typical network fees. Especially for those deeply entrenched in on-chain activities, Kresus’s service, in partnership with Coinflow Labs, eliminates repetitive KYC formalities post-initial verification:

“Because just one-time verification is required, Kresus users can make multiple withdrawals without needing to complete KYC each time.”

By forgoing the standard off-ramp structure, Kresus leverages Coinflow Labs’ on-chain infrastructure for more efficient transactions. This shift translates to direct savings for the end user, with most of the transactional processes occurring on-chain, significantly cutting down intermediary touchpoints.

Discussing the partnership, Daniel Lev, CEO of Coinflow Labs, stated, “Partnering with Kresus, Coinflow empowers users to seamlessly move liquid crypto directly from their self-custody wallets. We believe that users deserve full control over their crypto assets, and our on-chain infrastructure fills the missing piece by offering off-ramping options with minimal fees:”

“We provide both a free offramp and an instant, 24/7/365 priority service.”

Improving off-ramp solutions is essential for a more user-friendly interface between cryptocurrency platforms and traditional financial systems. Kresus’ new offering provides users with a choice of a no-cost service or a premium option, catering to a range of user needs through infrastucture provided by Coinflow Labs.

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The post Zero-Fee USDC Off-Ramp Launched by Kresus in Partnership with Coinflow Labs appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ September 12, 2023 4:24 pm