Add Off Ramp channel to the plugin and support USDT and DUSD exchange for INR（PlatON）
The wallet plugin has added an Off Ramp channel and supports USDT and DUSD conversion into INR fiat currency
- Off Ramp Channel: The Off Ramp channel refers to a channel that converts cryptocurrency into traditional fiat currency, allowing users to exchange cryptocurrency assets for real-world fiat currency.
- Add Off Ramp channel to wallet plugin:
-Increase redemption channels: By adding Off Ramp channels, the wallet plugin provides users with a variety of redemption channels, allowing them to convert cryptocurrencies such as USDT and DUSD into INR fiat currency, expanding their usage scenarios and choices.
-Convenient user operation: Users can directly redeem in the wallet plugin without leaving the wallet interface, providing a convenient and simplified user experience. - Support converting USDT and DUSD into INR fiat currency:
-Partners and Exchanges: The wallet plugin establishes cooperative relationships with partners and/or exchanges, and users can exchange with these partners through the plugin. The partner will provide the service of converting USDT and DUSD into INR fiat currency.
-KYC and AML requirements: To ensure compliance, the redemption process may involve requirements for User Authentication (KYC) and Anti Money Laundering (AML). Users may need to provide relevant identification documents and information. - Security and protection of user funds:
-The wallet plugin needs to ensure the security of user funds when adding Off Ramp channels. The core principles include: ensuring the credibility and reputation of partners, adopting secure transaction mechanisms, and having a reasonable rate and commission structure.
-In addition, ensure the maintenance of user privacy and data security, compliance with legal business operations, and compliance with laws and regulations, such as KYC and AML policies. - Regulatory compliance and risk control:
-Wallet plugins need to pay attention to regulatory policies to ensure compliance with local laws and regulations, and to avoid legal risks caused by policy violations.
-Corresponding risk control measures should be developed, such as setting low exchange limits, monitoring transaction risks, and implementing anti money laundering measures.
Adding an Off Ramp channel, the wallet plugin provides users with the ability to convert encrypted currencies such as USDT and DUSD into INR fiat currency, providing convenience and a rich user experience. During the process, security, compliance, and user fund protection are key considerations. This kind of functional expansion can provide users with diverse services and usage scenarios.