FiatConnect
An Open On/Off Ramp API Standard
Helping developers bring liquidity to their Web3 applications
Meet FiatConnect, the API spec that enables locally relevant on/off ramps to achieve global reach
FiatConnect makes it easy for web3 wallets and dapps to integrate with multiple on/off ramps with a standardized API, taking the pain out of achieving global on/off ramp coverage.
More fiat-to-crypto on and off ramp options globally and locally
FiatConnect aims to solve each component of the cash-in and out flow for the broader Celo ecosystem by allowing any on/off provider to plug in with a single standard that results in seamlessly servicing any web3 wallet. To learn more, check out the following talk from Celo Connect.
Technical Details
Standardized initial entity support
FiatConnect supports identity verification, KYC, and fiat payment/funding options that vary by provider & geography.
Wallet integration
Providers have access to a client-side FiatConnect SDK. With a one-size-fits-all approach, client developers can write a single native flow to cash-in/out without having to rely on ad hoc integrations. FiatConnect focuses on ease of client integration, so as providers broaden support or change their requirements, no client-side changes are necessary.
Open-source
FiatConnect is freely available and can be used by any dapp or wallet in the Celo ecosystem.
Adding Funds
FiatConnect lets wallet developers control the whole on-ramping experience without requiring users to leave their wallet, making cashing in both easy and intuitive.
Withdrawing Funds
FiatConnect is for both cashing in and cashing out. Once your users have linked their accounts when cashing in, cashing out is a breeze.
Integrate with FiatConnect
For On/Off Ramp Builders
To incentivize payment providers to integrate FiatConnect and offer robust on and off-ramps globally, the Celo Foundation launched a $20M campaign called Connect the World.
Under this program, the Celo Foundation is offering a $150K award per country to the first payment provider to integrate FiatConnect and demonstrate strong acceptance rates in each eligible country. This award comes in the form of a $50K payment and a $100K fee subsidy per country.
To get started, check out the API starter kit and detailed specification to get building.
For Wallet and Dapp Builders
If you’re a wallet builder or working on a dapp, check out the FiatConnect example SDK
Architecture
Standardized endpoints
FiatConnect has four standardized groups of endpoints: Quotes, KYC, Fiat Accounts, and Transfers.
Schema Negotiation
Client and server negotiate which KYC/Fiat Accounts are allowed, and how to communicate that data. CICO providers work with FiatConnect to support new and reusable KYC/Fiat Account schemas.
KYC verification & transfers
The specification provides updates on async operations, like KYC verification and transfers. This provides polling endpoints and real-time updates via client-configurable webhooks.
