Onramp has announced integration with Tezos; This officially brings scalability for both ventures and easy accessibility to the crypto sphere for Indian users. Simply put, Indian users will now be able to acquire their favorite crypto assets through UPI, IMPS, and/or bank transfers. Transactions are hinted to happen at lightning speed; however, it will depend on the number of requests and technical specifications at the time of processing those requests.
All the price tags will display the range in INR (₹), empowering users to make an informed choice without having to convert a foreign currency into a local currency.
The list of crypto assets will include the native token of Tezos – TEX (XTZ). Tezos enters the Indian market with a streamlined onboarding process and enhanced accessibility. It has, per the announcement, not compromised on the security aspect even after removing all the possible obstacles for users. Tezos and Onramp joining hands bring innovation in the entire crypto sphere on top of new opportunities.
Local payment methods make it convenient for Indian users to leverage the capabilities of the open-source blockchain platform. Developers and businesses are eyeing to join the platform as long as the partnership is willing to go strong on paper and in practicality. Tezos and Onramp have committed to this partnership under the terms that they will enhance accessibility, security, and scalability. All these factors are imperative for businesses and developers wanting to register on a platform.
Tezos is evolving with every partnership. It has, so far, paved the way for a democratic operation via blockchain ecosystem and open participation in network governance. It is backing the decentralized innovation to drive the future of the said technology. Assuming the partnership and advancement move as expected, the native token will surely cross the mark of $1 by the end of 2023. Needless to say, it could be stopped at the current value of $0.809. Until then, Tezos future looks strong to the extent that the trading value is being teased to surpass $2 in the next year.
What makes Tezos an ideal partner for Onramp and an ideal entrant in the Indian market is its ability to boost seamless transactions and interactions within the ecosystem. The open-source software has created a vibrant ecosystem wherein anyone can build and develop a scalable solution.
The community has reacted with optimism, with some stating that this is a next-level development. Some have identified an issue, too. Members are claiming that UPI applications have blocked their accounts. Thereby restricting users to not transferring their funds to Tezos wallet.
The current integration follows Tezos joining hands with Team Finance. They are credited with securing $500 million across 12 different blockchains.
As for Onramp, the venture is out there – making it convenient for users to convert their fiat currencies into digital currencies, which can be used in Web3. The team has simultaneously warned its community about fake profiles in their name that are being circulated to dupe them for heavy funds.