Originally published on: December 04, 2024
Uphold, a well-known global cryptocurrency broker, is introducing a new solution called Topper that enables users to withdraw their crypto assets to non-custodial wallets. This move expands Uphold’s capabilities for self-custodial wallets and provides greater accessibility to the crypto market.
With support for 232 cryptocurrencies, Topper aims to bridge the gap between self-custodial wallets, decentralized exchanges (DEXs), and Web3 projects. Users of self-custodial wallets like MetaMask now have the option to sell their crypto assets and withdraw fiat proceeds directly to their debit cards using this new off-ramp solution.
In the world of crypto, on-ramps and off-ramps are essential for converting fiat money into cryptocurrencies like Bitcoin (BTC) and vice versa, facilitating interaction between the crypto market and traditional financial systems. While centralized exchanges offer convenient off-ramp options, self-custodial wallets often lack efficient withdrawal methods.
Topper’s global head of sales, Frankie Picciano, highlighted the significance of this new solution by stating, “Topper now supports the full cycle, not just accepting digital payments, but also enabling smooth and flexible off-ramps so users can exit the digital economy when they choose.”
The off-ramp solution offered by Topper will be accessible through their website, with initial support for XRP wallet Xaman and plans to add more partners in the near future. Uphold Enterprise CEO Robin O’Connell emphasized that Topper’s off-ramp solution will be available in over 230 countries worldwide, including regions that are traditionally underserved like Latin America, the Asia-Pacific region, and Africa.
To ensure compliance with reporting requirements, Uphold may collect and verify users’ personal information. Topper’s off-ramp will have a 1.75% transaction fee at launch, but users can take advantage of a promotional period with no fees until December 22. Additionally, the daily withdrawal limit for transactions is set at $24,000.
With the introduction of Topper, Uphold is making it easier for users of self-custodial wallets to seamlessly convert their digital assets to fiat and access their funds through traditional financial channels. This innovative solution marks a significant step in enhancing crypto accessibility and usability for users worldwide.
