Overview and Architecture
Saber onramp provides a fast offramp experience for selling cryptocurrencies for fiat.
Why Choose Saber for Offramps?
Saber provides a secure, reliable, and user-friendly solution for businesses to enable fiat offramps, allowing seamless conversion of crypto assets into fiat currency. Here are the key reasons to choose Saber Money:
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Competitive Conversion Rates:
- Saber Money offers some of the best conversion rates tailored to the Indian market.
- Supports multiple fiat currencies, including INR, GBP, and EUR.
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Regulatory Compliance:
- Built-in KYC checks and tax compliance services simplify regulatory alignment and tax reporting.
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Security and Reliability:
- Advanced encryption, fraud prevention, and real-time transaction monitoring ensure secure and uninterrupted transactions.
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Comprehensive Payment Support:
- Multiple payment methods are supported, including UPI, IMPS, NEFT, and RTGS.
- Multi-currency transactions enable businesses to cater to diverse user needs.
Note: Currently, Saber’s offramp services are limited to Indian bank accounts, with plans to expand to additional jurisdictions and currencies.
Transaction Flow
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Transaction Initiation:
- The user initiates an offramp request via the API or SDK.
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KYC Check:
- The system verifies the user’s KYC status. If incomplete, additional details must be provided.
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Conversion:
- Crypto is converted to fiat at competitive rates upon successful KYC verification.
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Fee Deduction:
- Applicable fees are calculated and deducted before the final payout.
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Outgoing Payment:
- Fiat is transferred to the user’s bank account using the selected payment method.
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Status Update:
- The system updates the transaction status at each step, providing real-time tracking and confirmation.
Key Components
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API Layer:
- Provides endpoints for all key operations, including initiating transactions and managing payouts.
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KYC and Compliance Module:
- Handles regulatory checks, ensuring compliance with KYC and AML standards.
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Conversion Engine:
- Converts crypto to fiat using real-time rates, offering competitive pricing.
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Payment Processor:
- Manages outgoing payments to user bank accounts via UPI, IMPS, NEFT, or RTGS.
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Monitoring and Logging:
- Tracks transactions in real-time, ensuring full visibility and traceability.
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Security Layer:
- Protects transactions with encryption, HMAC authentication, and fraud prevention mechanisms.
Security Features
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Encryption:
- Safeguards user and transaction data both at rest and in transit.
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HMAC Authentication:
- Secures API endpoints against unauthorized access.
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Fraud Detection:
- Monitors and flags suspicious activities in real-time.
Conclusion
Saber Money’s offramp solution provides businesses with a secure, compliant, and developer-friendly platform for enabling fiat withdrawals. With robust features, seamless integration, and top-notch security, Saber ensures a superior experience for both businesses and users.
Updated 29 days ago