FLUUS becomes an official strategic partner of dua. Enabling seamless on and off-ramps inside the upcoming in-app wallet for 5M+ users.
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In line with our vision to introduce our 5 million users to the DUA-powered ecosystem, we have partnered with FLUUS, an upcoming aggregator of crypto ramping services with a network covering emerging markets. One of the main challenges today in web3 is the conversion of crypto to fiat currencies and fiat to crypto, making it hard for people to engage with Dapps or DeFi protocols. People living in emerging markets have a lower chance of using major on & off-ramps because of certain restrictions, which is where FLUUS comes into play.
This partnership will allow the 5+ million users of our ecosystem of apps (dua.com and spotted.de) to convert their fiat currencies (USD, EUR, GBP, etc.) to DUA and DUA to fiat directly inside their in-app wallet through their debit/credit cards, Apple/Google Pay, Mobile Money, and cash through MTOs (Money Transfer Operators).
Our ecosystem is powered by DUA, an ERC20 token launched on Avalanche that serves as a reward and payment instrument for services offered in the apps.
Why are On & Off-Ramps important?
Users must be able to purchase their preferred crypto tokens with their fiat currency of choice. Where on-ramps are a way to enable users to exchange their fiat money for cryptocurrencies, off-ramps are the opposite. Making cryptocurrency exchangeable for fiat currency has made it attractive to new participants and significantly increased its popularity.
On and off-ramps are a way for new users and new money to enter and leave the crypto space, but not all of them act in the same way. For example, an exchange is one of the most common places for new users to get their first coin. Not all exchanges allow direct fiat purchases, especially in emerging markets. So users are left lost in Telegram and Facebook groups looking for a double coincidence of needs and peer-to-peer marketplaces. However, FLUUS saw this as an opportunity to provide a crypto ramping service that suits the region and its requirements.
“The 5M+ users of dua.com and spotted.de are generally non-crypto natives and often financially excluded from the banking sector. We have partnered with FLUUS, an emerging On & Off-Ramp aggregator, to make the in-app experience of our users of converting FIAT to Crypto and back as easy and intuitive as possible. Coming from underserved communities, FLUUS’s team understands what it means to have no access to basic financial services. We look forward to the integration and a fantastic journey together.”
– Ardit Trikshiqi, Chief Payments Officer at dua
What is FLUUS and how does it work?
FLUUS is an aggregator of crypto ramping gateways with a ramping network covering emerging markets. It offers the Web3 space an aggregator of 3rd party solutions like (Moonpay, Transak, Wyre, etc.) and in-house designed payment solutions – FLUUSpay to provide fiat on and off-ramping using debit/credit/apple/google pay, mobile money, and cash.
FLUUSpay is the fiat-to-crypto gateway for emerging markets. Fiat currencies (cash and mobile money) can be converted to stablecoins in more than +10 countries. That is thanks to partnerships with licensed local money transfer operators.
FLUUS’s tokenized network of partners reduces the risk of force majeure in countries where banking infrastructure is too weak or too corrupt to use and provides fee reductions for businesses integrating with FLUUS & users staking FLUUS tokens.
FLUUS can offer a method to buy and sell crypto through a network of payment service providers in emerging markets. That is by integrating with local Money Transfer Operators.
Under a single API developers benefit from a single interface and intelligent selection engine to connect to any provider. Users across +170 countries can enjoy the support of +100 currencies and +200 cryptocurrencies, including top stablecoins.
“Smartphones and the internet connect communities through social platforms, breaking communication barriers. Today the same tools can connect communities financially through the innovations of Web3, bridging value globally. DUA is playing a transformational role by connecting diaspora communities back home. FLUUS is there to support them to communicate and transact in ways that protect their heritage, culture, and language.”
– Tey El-Rjula, Co-Founder & Chief Executive Officer at FLUUS
DUA token – Capital Raise
The team at dua Foundation is preparing for the DUA token capital raising event on Fundrs – a peer-to-peer funding platform built by AllianceBlock. Stay tuned for the announcement of the official listing and fundraising event.
About dua AG & dua Foundation
dua AG is a Swiss-based company in the business of online matchmaking. The company owns and manages dua.com — a community matchmaking platform for reconnecting globally fragmented communities. It also owns Spotted — a dating app that provides users to make new connections based on real-life interactions.
dua Foundation is a Dutch-based non-profit. Moreover a self-governing and independent organization central to the promotion and development of globally fragmented communities. In conclusion, it is the entity responsible for issuing the DUA token.
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FLUUS LTD. is a Marshall Islands entity in the business of blockchain services. The company owns and manages FLUUS.com — FLUUS is an aggregator of crypto ramping gateways with a ramping network covering emerging markets.
Under a single API developers benefit from a single interface and intelligent selection engine to connect to any provider.
Join us to onboard the next billion users to crypto and web3.