April 12, 2023
Poko is excited to announce our partnership with Web3Auth, a leading enterprise wallet provider in web3. By offering our Onramp Aggregator, we help remove technical barriers to digital ownership and make web3 accessible to all of its 10M+ monthly active wallet users. Follow our announcement below to see how our partnership will benefit Web3Auth, its enterprise customers, and wallet users.
Web3Auth is an authentication infrastructure for web3 wallets and decentralized applications (dApps) that makes onboarding both mainstream and crypto-native users instant. It supports all social logins, web- and mobile-native platforms, and other key management methods. Web3Auth’s products make user onboarding seamless and allow UI customization for wallets to blend into enterprise customers’ applications.
Poko empowers web3 dApps, wallets, and games with bank-like superpowers with embedded local payment methods. For Wallet-as-a-Service providers like Web3Auth, we connect high-performing localized onramps, payment methods, and Know Your Customer (KYC) procedures to their wallet solution to make user onboarding even more frictionless.
Users’ fiat onramping experience for most wallets and dApps is poor with extremely high costs, hidden fees, and transaction success rates often under 10%. Card-based onramping is seeing decreasing transaction success rates in all countries. Fees for purchasing crypto with individual onramp providers are opaque and high. Poor onramp conversion leads to up to 70% loss of customers.
With Poko’s new partnership with Web3Auth, we aim to provide a one-stop shop for seamless payment solutions for its 10M+ monthly active wallet users, removing the technical barriers to digital ownership. Instead of testing and integrating 20+ onramps to cover key web3 markets well, the infrastructure provider works with Poko to enable its enterprise customers to turn on any or all onramps with the push of a button. We will also provide data and dashboards to Web3Auth’s customers to enable them transparency on their user’s payments experience. For Web3Auth’s end-users, our Onramp Aggregator will help them get the lowest net price; wide coverage of tokens and protocols; commonly used payment methods; and a smoother journey into web3.
Our collaboration aims to change the payments experience inside crypto wallets by providing a better onramping experience for Web3Auth’s customers and their end-users. We believe this is a step forward in our shared vision of building an accessible web3 for all users. We are excited about the future of our partnership's role in bringing bank-like superpowers to wallets.