I’m thinking about adding an option to Orderbook to buy xUSD with fiat money.
Maybe Tokensoft would help here?
I think this solution would positively affect the liquidity in Orderbook.
@fiftyeightandeight, @Marc, @werner.btc, @HeroGamer what do you think about it?
Using fiat to onboard new users/capital is a great idea.
If possible, you could also allow fiat direct to multiple different currencies or just STX (your choice).
However, most fiat on-ramps require FICA / KYC which is a turnoff for ‘decentralized’ investors and this should be dealt with carefully I think.
There is no problem in having it for those who want it, but marketing wise, it shouldnt come across as a CEX etc.
Also consider your legal reporting responsibilities of allowing such.
Thanks for your feedback W1K.
It is valuable.
Currently, for example, in Hiro Wallet there is the option to buy STX, but also under certain conditions and restrictions via external exchanges like Binance, Okcoin, Coinbase, Bybit.
Of course, by adding this direct option to Orderbook, it would be as a possibility and not a necessity to use
Hi @mike_bear_1 @W1K , yes, that is a great idea and is something we will be adding over time.
At the moment we are looking into an integration with Circle, with an ultimate goal of allowing our users to move fiat from (and to) their credit card or bank account on ALEX orderbook seamlessly.
The points raised by @W1K are all important, and will be relevant factors in the decision making process.
I am hoping we can start work on this from the later part of next month or early Jan, so will keep you updated!
sounds great what you are writing about.
We are patiently waiting for news of further progress.
And we are keeping our fingers crossed for the implementation of these solutions.