Off-ramping support in LATAM & Europe
TL;DR: Mural is thrilled to unveil our latest feature expansion, offering enhanced off-ramping capabilities for both businesses and individuals. Now, seamlessly convert USDC or USDT to USD, EUR, COP, ARS, and more with minimal fees, superior exchange rates, and swift settlement times. This expansion not only covers LATAM but also extends to Europe, ensuring a broader reach and increased flexibility for our users.
Our vision behind Expanding Off-Ramp Support
At Mural, we aim to facilitate the movement of money globally. After talking to many businesses and contractors around the world, we learned that there are mainly three frictions:
High Fees and Bad Conversion Rate: The most frustrating thing is being surprised by a super high fee along with a low exchange rate. The loss can sometimes sum up to 4% of the total converted amount.
Slow Processing Time: Depending on the destination country and currency, certain exchange transactions can take a week to land in the bank. This causes stress to business operations that demand funds liquidity immediately.
Low Coverage in Currency and Jurisdiction: Most of the solutions on the market only provide off-ramping to one specific currency or in one specific country. However, a globally distributed business usually demands for off-ramping in 2+ currencies and jurisdictions.
What are the benefits?
The expansion of our off-ramping capabilities brings a host of benefits to our users:
Low Fees: Enjoy competitive exchange rates that outperform those offered by Wise and Payoneer, ensuring more of your money stays with you.
Fast Settlement: Experience the convenience of having withdrawn funds typically available within 1 business day, streamlining your financial operations.
Expanded Coverage: With the inclusion of EUR and key LATAM currencies like COP and ARS, access a wider range of currency conversion options to meet your needs.
How to Get Started
To take advantage of these new off-ramping routes, simply link your bank accounts in Settings > Connected Accounts. This update is designed to make your financial transactions smoother and more efficient, providing you with the tools you need to manage your digital currencies effortlessly. For a comprehensive guide on how to utilize this new feature, please refer to our detailed documentation.
Conclusion
Mural's expansion of off-ramping support marks a significant milestone in our journey to provide comprehensive and user-friendly financial solutions. By introducing more currency options and improving transaction efficiency, we're excited to support our users in LATAM and Europe, bringing them one step closer to seamless financial integration. We're continuously working on adding more fiat currencies and routes, so stay tuned for future updates. Your financial empowerment is our top priority, and we're here to make your stablecoin conversion process as easy and efficient as possible.
