Ripe operates a stablecoin payments platform that bridges cryptocurrency holdings with real-world fiat transactions. The service enables users to pay merchants directly with stablecoins via QR codes, with merchants receiving instant fiat settlement. Additionally, Ripe facilitates off-ramping stablecoins to personal fiat e-wallets and offers integrated solutions for payroll and payouts in local currency.
Funding
Funding not disclosed
Founders
Product
Problem
Converting cryptocurrency to fiat currency for everyday use in Southeast Asia often involves complex processes, reliance on traditional banking infrastructure, and can be inaccessible to unbanked populations. Existing solutions may require KYC verification, bank accounts, or risky peer-to-peer exchanges, creating friction for users seeking to spend their crypto earnings.
Solution
Ripe enables users to seamlessly spend cryptocurrency by facilitating real-time conversion to local currency for payments to e-wallets and merchants across Southeast Asia. By integrating with existing QR payment systems like Paynow, QRPh, and PromptPay, Ripe allows users to pay with stablecoins at tens of millions of payment points without requiring merchants to adopt new hardware or blockchain knowledge. The platform also provides an off-ramp to e-wallets, allowing users to instantly convert crypto to local currency balances without needing a bank account. Ripe focuses on enabling everyday payments, bridging the gap between digital assets and real-world commerce.
Target Audience
Ripe targets cryptocurrency users in Southeast Asia, including those earning crypto through trading, gaming, and freelance work, as well as dApp developers, crypto wallets, and CEXs seeking to enable everyday crypto payments.
Features
- Compatibility with existing fiat QR payment systems (Paynow, QRPh, PromptPay) for widespread merchant acceptance
- Real-time conversion of stablecoins to local currency
- Direct off-ramp to e-wallets, bypassing the need for bank accounts
- Browser-based dApp for consumer access via crypto wallets (e.g., Phantom, Trust, Bitget)
- SDK/widget for native integration into crypto wallets and centralized exchanges (CEXs)
- Support for stablecoins on fast, low-gas chains
- Scan-to-pay functionality that processes crypto transactions and completes payments in local currency