Product updates

Yield App launches direct fiat on- and off-ramps for EUR and GBP

5 min read
  • Transferring money from fiat into crypto is referred to as “on-ramping”, and “off-ramping” for changing back from crypto to fiat.

  • Yield App has introduced a new fiat on-ramp and off-ramp solution for EUR and GBP, allowing you to transfer fiat currencies seamlessly and convert them into crypto

  • EUR and GBP transfers to Yield App are free under our launch promotion

  • Following a short questionnaire, you will be able to generate your own account number on Yield App 

  • After transferring your assets, simply swap fiat into crypto 

Transferring money to and from the crypto sphere – called “on-ramping” and “off-ramping” – can be extremely challenging, and varies significantly from jurisdiction to jurisdiction. To simplify this journey for our customers, we’re excited to announce our institutional-grade fiat on-ramp and off-ramp solutions. 

You can now transfer EUR and GBP onto Yield App directly utilizing traditional bank transfers. You can then easily convert these fiat funds into crypto assets to earn daily interest on the Yield App platform.   

READ: How to get cryptocurrency from DeFi into the real world

Whilst fiat as a government-issued legal tender remains the primary source of global capital for transaction purposes, we firmly believe that creating seamless on-ramping solutions will help with broader crypto adoption. 

How does it work?

For your first deposit, you will be required to fill out a short questionnaire on your investment knowledge and experience. After this, you will be able to generate an IBAN account for EUR or a UK bank account number for GBP in your own name. Using traditional bank transfers, you can then send EUR and/or GBP to this account. 

Once the funds have been credited to your account, you will be able to swap to crypto using the simple “swap” function to begin earning yield via one of our portfolios. You can also swap your crypto assets back into fiat following the same procedure. 

Please note that you’ll only be able to transfer funds or assets to these accounts from another account in your own name. Transfers to and from friends and family or business accounts are not possible due to compliance reasons.

If you are one of our institutional clients, you will still be able to use our fiat rails, provided you have a business account with Yield App. This Yield App account must be in the same name as your fiat company bank account.

If you’re based outside of Europe or outside the SEPA area, you can still generate your own account number and transfer EUR or GBP to Yield App via services such as Wise, PayPal, or Revolut (outside Europe). 

The transfers of fiat are usually very fast, with no transfer fees to Yield App under our launch promotion. We support SEPA and Faster Payments (FPS) for seamless and fast transfers onto Yield App.

What are fiat rails?

Like a traditional railway, a payment rail is an infrastructure or technology that enables the transfer of assets between contracting parties. They’re often measured by their security capabilities, fees, and volume of transfers. 

The number of payment rails has drastically increased in the last decade thanks to new communication technologies, in turn driving up the volume of transfers. More importantly, these transactions are increasingly becoming digital. Cash payments in the Euro area in 2022 made up 59% of transactions at the point of sale, according to an ECB survey, down from 72% in 2019.  

As retail and institutional investors are increasingly looking for ways to enter cryptocurrency markets, almost all major digital asset custodians and platforms are looking to simplify their onboarding procedures. Secure fiat on-ramps and off-ramps will play an integral role in bringing new investors into the Web3 ecosystem.  

Fiat rails - our latest feature

The failure to bridge the gap between fiat and crypto remains a barrier to entry for new participants in the digital assets markets. While you can purchase cryptocurrencies using credit cards, these transactions are often subject to additional fees of up to 7%, depending on the platform, credit card provider, or bank. 

Yield App’s on-ramp solution has no deposit fees under our launch promotion and offers proven fast, secure, and reliable transfer methods like SEPA Instant and FPS. Once the first transfer has been approved by your bank, the transactions occur almost instantaneously (depending on your bank and/or any compliance-related matters). 

We also offer a direct connection to your banking app to initiate a pre-filled transfer to your Yield App account, making the process even easier and safer for you. We call this option “Direct Connect”.

  • Note, there is no option to swap fiat to fiat, only fiat into crypto and vice versa. 

  • The minimum deposit and minimum withdrawal amounts are 1 EUR/GBP, respectively. 

  • If you wish to withdraw assets, you must do so to a bank account in your own name that has been successfully verified by Yield App. Withdrawal fees will apply.

Check out the detailed Fiat section in the Yield App Help Centre for more information.


Want to go from fiat to crypto with zero fees? Sign up for a Yield App account today!

DISCLAIMER: The content of this article does not constitute financial advice and is for informational purposes only. The price of digital assets can go down as well as up, and you may lose all of your capital. Investors should consult a professional advisor before making any investment decisions.


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