RedotPay has recently launched Instant Fiat-to-Stablecoin Onramps in the United Kingdom and the European Union.

This new feature will allow zero-fee stablecoin purchases using EUR and GBP deposits. The company plans to make this product available across all supported regions, as RedotPay continues to address the evolving needs of its clients and users while ensuring regulatory compliance.

Starting July 6th, verified users can deposit EUR and GBP directly into RedotPay’s Multi-Currency Wallet and instantly convert these funds into stablecoins. This development is part of RedotPay’s ongoing product strategy, following the USD 40 million Series A funding round they secured earlier this year.

Details on RedotPay’s Instant Fiat-to-Stablecoin Onramps

According to the official press release, the new fiat deposit feature aims to enhance user experience by offering a more cost-effective and faster processing alternative compared to offline over-the-counter (OTC) shops. It also provides a safer approach in terms of compliance.

To use this feature, customers need to complete identity verification and answer a risk assessment questionnaire. Each account will be linked to either EUR or GBP, and deposits must match the user’s government-issued identification from supported regions only.

RedotPay has also integrated new in-app security measures to promote safe usage and prevent common crypto scams. These enhancements underscore RedotPay’s commitment to maintaining high standards of compliance and security while ensuring a user-friendly experience.