Table of Contents
What is an onramp?
A crypto on-ramp (sometimes also spelled “crypto onramp”) is a system that allows economic value to be transferred from fiat money into crypto assets. Essentially, it outlines the steps users can follow to exchange fiat for crypto.
An on-ramp doesn’t necessarily refer to a singular, unified platform. Historically, on-ramping often occurred across various platforms and required numerous steps. This was the typical on-ramping process a few years ago.
What is the fiat crypto gateway?
An onramp widget, also known as a fiat to crypto gateway, is an embeddable tool integrated into platforms or applications. It enables users to purchase crypto using their debit or credit cards. These solutions often include a non-native KYC procedure, typically carried out on the gateway’s website, to onboard users.
What is Crypto-BaaS?
Crypto Banking-as-a-Service (Crypto-BaaS) refers to companies that offer both cryptocurrency and fiat banking infrastructure for other businesses to incorporate into their products. Typical features provided by Crypto-BaaS include:
- Crypto wallets
- Crypto exchanges
- vIBAN accounts for individual users
- Virtual and Physical Cards
- KYC & AML controls
Examples of them are Striga, Solid, and Synapse
Where do they overlap?
Onramp gateways and Crypto-BaaS both facilitate the movement of funds between traditional financial systems and cryptocurrency. Essentially, as the name suggests, the unique features of Crypto-BaaS are its crypto functionalities: wallets, exchanges, and crypto-specific KYC/AML procedures.
Striga Vs. Crypto onramp gateway
Time to Market
Crypto onramp gateway: Integration with an onramp widget typically takes between 3 to 6 weeks. However, the duration can vary based on the specific gateway and the features being implemented.
Striga’s Starter Plan: This plan allows you to deploy a comprehensive solution with vIBANs and crypto wallets within a 3 to 6-week timeframe.
Verdict: The time to market is comparable for both options, contingent upon the speed of integration from your end. Notably, Striga’s CaaS plan offers a seamless experience for your end-users, enabling them to deposit EUR using instant SEPA payments.
Striga
Crypto onramp gateway
Time to Market
3 – 6 weeks
3 – 6 weeks
Striga vs. Crypto onramp gateway:
Financials
Crypto onramp gateway: Onramp gateways typically charge transactional fees, which may encompass KYC fees, exchange fees, and other fees depending on the type of swaps.
Striga: Striga’s Crypto-BaaS platform charges EUR 5,000 as an upfront integration fee, plus a monthly fee of EUR 1,990.
Verdict: Striga is considerably more cost-effective. It allows companies significant leeway to markup transactional fees, structure their business model around them, and consider the integration for a big volume
Financials
Striga
Crypto onramp gateway
Upfront Cost (EUR)
5,000
N/A
Monthly Fee (EUR)
1,990
N/A
Striga Vs. Crypto onramp gateway
Services Offered
Striga offers a tailored, native fiat to crypto gateway. Conversely, onramp widgets offer just an embeddable product, devoid of customization and without the flexibility to adapt to your application’s unique workflow.
- Individual IBAN accounts
- Physical and Virtual Card Issuing
- Apple Pay & Google Pay support (Tokenization)
- Publicly Available Sandbox: This administrative tool lets companies simulate the entire flow of funds, onboard users, monitor transactions, and set the transactional fees they wish to levy on end-users. Onramp widgets lack this feature, meaning all transaction management falls on the owner.
- Interactive Setup Guide: While many companies provide setup guides, most are static. Striga uniquely offers a guide that interacts directly with its servers, allowing clients to test and familiarize themselves with each step in real time.
- Public API Documentation: Striga boasts publicly accessible documentation. In contrast, Onramp widgets don’t offer any APIs.
Verdict: In terms of services, on the Fiat side, both options are good. If crypto functionalities are desired, Striga is the only way to go.
Striga Vs. Crypto onramp gateway
Regulation & Compliance
Successful integrations, an app filled with features your users adore, and favorable financials can all be jeopardized by a single regulatory misstep. To ensure continuity and compliance, it’s imperative to focus on three key areas: Know Your Customer (KYC), Anti-Money Laundering (AML), and licensing.
- Regarding KYC: By integrating with Striga, you gain access to a native KYC SDK, streamlining user onboarding without any external redirects. Onramp widgets, on the other hand, do not offer embedded native KYC SDKs; user onboarding must occur on their platform.
- Regarding AML: Partners integrating with Striga don’t need an in-house compliance team. Conversely, onramp widgets don’t provide AML services, operating under the assumption that partners are licensed. With MiCa legislation imminent, such an approach may soon be untenable.
- Regarding Licenses: Striga doesn’t mandate its clients to possess virtual asset licenses or commercial registrations. In contrast, onramp widgets typically necessitate a detailed registration process or a digital asset-specific license.
Verdict: Striga offers greater regulatory flexibility, absolving clients from significant responsibilities. In the realm of compliance, Striga clearly holds the edge.
Regulation & Compliance
Striga
Crypto onramp gateway
KYC SDK
Yes
No
AML/Transactions Monitoring
Yes
No
Licenses or Commercial Registrations NOT Required
No
Yes
Verdict
Is Striga better than the Crypto onramp gateway?
The choice hinges on your specific needs and objectives.
If you seek a non-native onramp solution and have ample resources at your disposal, an onramp widget might be suitable.
Conversely, if your aim is to build a fiat to crypto payment gateway while optimizing resource expenditure, Striga emerges as the go-to option. It’s specially tailored for burgeoning enterprises in search of a comprehensive solution that leaves them space to breathe and expand their operations.
Striga Crypto-native Banking as a Service:
Your path to building and launching financial products
Join the financial businesses that use Striga’s cloud platform to delight their customers and launch their own products without the complexities that come when dealing with core banking solutions’ relationships, licensing, compliance and payments methods.
EN 
FR