Crypto-to-cash conversions face challenges in speed and integration, hindering wider crypto adoption. Renegade, a Web3 financial platform, aims to address this by offering IBAN accounts and a Visa card, merging crypto assets with traditional banking.
As the digital currency landscape expands, users frequently encounter a significant hurdle: the challenge of swiftly converting digital currencies into cash, especially in urgent situations. The lack of express fiat off-ramps is becoming a major obstacle to the broader adoption of cryptocurrencies.
The essence of a liquid asset lies in its ease of conversion into cash. When assets cannot be readily liquidated, their perception as a viable financial resource is severely undermined, which contradicts the foundational promise of cryptocurrencies as an accessible alternative to traditional currency forms.
Crypto needs simple gateways to fiat
For crypto to be embraced by the mainstream, it must offer liquidity comparable to traditional assets. The current crypto-to-cash conversion solutions, also known as fiat off-ramps, often lack fluidity and integration. Many of these solutions fail to provide a seamless experience due to a lack of collaboration with financial institutions capable of offering comprehensive IBAN accounts.
The absence of an efficient, user-friendly platform that bridges the gap between the digital and traditional financial worlds remains a significant barrier to realizing the full potential of cryptocurrencies. Renegade, a Web3-ready financial services platform, emerges as a solution to link cryptocurrencies and traditional finance through simple cash-out offerings.
Renegade aims to simplify crypto-to-cash conversions. Source: Renegade
The platform offers a streamlined approach to transforming crypto assets into cash and manages to stand out from the rest by providing an integrated solution that combines the best of both worlds: the potential of cryptocurrencies and the familiarity of traditional banking.
IBAN accounts and Visa cards for crypto users
As a Cointelegraph Accelerator participant, Renegade’s unique proposition lies in offering a full-fledged IBAN account to its users, utilizing its partnership with Intergiro, a European fintech company based in Sweden. Known for its innovative banking solutions, Intergiro provides the infrastructure for IBAN accounts. This functionality enhances liquidity and provides security often lacking in the crypto world.
The platform’s solution encapsulates a larger vision of financial empowerment and inclusivity. Users can quickly convert and use their digital assets in the real world with a Visa card linked to their account. The Visa card, compatible with popular digital wallets like Apple Pay and Google Pay, makes crypto accessible to a broader audience.
Renegade offers users crypto payment-compatible Visa cards. Source: Renegade
Users can benefit from the simplistic design of Renegade’s mobile app, which enhances the practicality of crypto transactions. The Visa card integrates with the app, providing users with a tangible tool for accessing digital funds in a more traditional format.
Easier crypto cash out for wider adoption
The financial services platform forayed into the realm of nonfungible tokens (NFTs) with its NFT cards that carry functional benefits in the Renegade ecosystem. These NFTs offer users unique rewards and privileges, such as subscription refunds, airport lounge access, and cashback in RNG tokens on eligible purchases with the Visa card.
Renegade allows for practical crypto-to-cash conversions. Source: Renegade
Renegade's roadmap includes continuous development and expansion of its platform to further enhance the user experience and integrate more crypto functionalities. Renegade's approach could pave the way for a future where the line between digital and traditional currencies becomes increasingly blurred, fostering a more inclusive and versatile financial ecosystem.
The availability of instant exchange platforms for converting cryptocurrencies into cash holds the potential to significantly enhance their appeal to a wider audience. By simplifying the conversion process, cryptocurrencies can transform into practical, everyday financial tools, encouraging adoption among a more diverse group of users.
Learn more about RenegadeDisclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
