January 16, 2023
Poko enables web3 game studios, dApps, and other web3 companies to accept fiat payments using the most accessible local payment methods across the United States, Europe, India, Latin America and Southeast Asia. We aim to ensure web3 ecosystems remain highly accessible to new users (or current ones) through high-performing onramps into NFTs, tokens, and other digital goods and content. We are excited to launch a private beta of our Onramp Aggregator.
Using Poko’s Onramp Aggregator, wallets, marketplaces, exchanges and web3 game studios can enable users in 120+ countries to use the fiat-to-crypto onramp with the highest transaction success rates and lowest cost. What we help you achieve:
After FTX, users have less trust in centralized exchanges which acted as the primary onramps into web3 for most of us. Furthermore, web2 user numbers far exceed web3 users - whether for games or DApps. These users require new and convenient ways of onramping into DApps and games at the point of sales. API and SDK-based onramps allow this.
According to Chainalysis, 5 of the top 10 countries with the highest penetration of crypto are developing countries (Vietnam, India, Brazil, Philippines, Indonesia). However, around 70% of the fiat-to-crypto onramps fail in these major web3 markets. Using an onramp aggregator to access and manage many local onramps specialized in their markets guarantees the best experience, costs, and ease of onboarding new users.
This top-up flow (from fiat to crypto, followed by a purchase) is used by NFT marketplaces like Opensea and Magic Eden, DEXes like Kyber, crypto wallets like Metamask, and web3 games like Axie Infinity.
We are committed to providing innovative and high-performing local payment products for web3 companies serving users worldwide. Our co-founders include Van Tran and Geoffrey See.
Van Tran was Head of Growth and Strategy for Netflix for Southeast Asia, Australia and New Zealand, and Northeast Asia - a region with US$1B in annual revenues of which alternative payment rails were critical in expanding access.
Geoffrey See was Chief Strategy Officer and founding team member for a high throughput US$2.4B coin cap L1 protocol, a former Ethereum Foundation Fellow, and member and co-author at the World Economic Forum’s Digital Currency Governance Consortium and ASEAN Digital Payments Taskforce. Geoffrey led Zilliqa’s technical implementation of cross-border payment settlement on blockchain rails for the Monetary Authority of Singapore (Project Ubin).
Web3 businesses have the potential to reach new and important markets in LATAM and SEA by incorporating local payment methods in their platforms. These methods, such as bank transfers, credit cards, and e-wallets, can make it easier for users in these regions to purchase in-game items, access new levels, and make transactions.
One of the challenges for web3 game studios and dApps looking to expand globally is that traditional payment methods, such as credit cards and bank transfers, may not be widely available or accessible in certain regions. This can make it difficult for users in these areas to participate fully in the platform and make transactions. By offering local payment methods, web3 businesses can help to overcome this barrier to entry, making it easier for users in these regions to participate and engage with their platform.
Additionally, incorporating local payment methods can also help to increase trust and credibility among users in these regions. By offering methods of payment that users are already familiar with and have experience using, web3 game studios and dApps can help to build trust and make it more likely that users will be comfortable making transactions within the platform.
Incorporating local payment methods can also help to reduce fraud and increase security. For example, using e-wallets can help to reduce the risk of credit card fraud and can make it easier for web3 game studios to verify users' identities and protect against fraud.
Of course, crypto businesses should be aware of the local regulations and laws. Not only can they vary greatly between countries and regions, but they can also evolve. Businesses should always check the current status of payment methods and be compliant with all the regulations to ensure they are operating legally.
In conclusion, incorporating local payment methods can help web3 game studios reach new markets in LATAM and SEA, increase engagement and participation, and scale their user base more quickly. By making it easier for users in these regions to purchase in-game items and make transactions, web3 game studios can help to overcome barriers to entry and increase trust and credibility among users.