Fiat-On Ramp in Europe: let`s make it really easy!


Within Europe it`s legally possible buy crypto using SEPA wire-transfer with minimal KYC. For byuing other crypto coins, these services already exist: for example for buying Bitcoin or for buying DFI (DeFi Chain). We should establish a similar service to buy Luna, UST, aUST etc. This will be the easiest and most conventient fiat on-ramp in Europe, making investment in TerraLuna as easy as using a wire-transfer and thefore push broader retail onboarding into TerraLuna. We should build such a service for investing in TerraLuna (especially Anchor Earn).

Long version:

Investing in Luna, UST, Anchor etc. is currently quite complicated, especially for “normal retail people” with limited crypto affinity. For example, if one wants to put money in Anchor Earn and benefit from the ~19.5% stable yield, this person has to do the following steps: (1) Register with a CEX, (2) Send money to CEX, (3) buy UST, (4) create a Terra Wallet, (5) send UST to Terra wallet, (6) deposit UST in Anchor earn. For many of us, that’s daily business (which we enjoy doing) - for a normal retail investor it’s definitely way too complicated. In order to attract a broader retail mass we need to make investments in TerraLuna dApps easier and therefore accessible.

(The following passage is per my layman understanding, I am no expert. If I get anything wrong, please feel free to correct me).

Under Swiss regulation it is possible to invest up to 900 EUR per day and up to 90,000 EUR per year without KYC using SEPA wire transfer. SEPA wire transfer are the standard way to send money in Europe and SEPA transfer are free of cost within Europe (e.g. sending money from Germany to Spain via SEPA wire transfer is free of charge). There are already companies that offer service to buy crypto via SEPA bank transfer: for buying Bitcoin or for buying DFI (DeFi Chain).

For a customer, this service to buy crypto is super convenient & easy: register your bank account and TerraWallet address with the company; no or very limited KYC is required, and start using the service by sending regular SEPA bank transfers to the provided bank account. This way investing in crypto is not more complicated than making everyday bank transfers.

Is someone within the Terra community already working on this kind of service? If not I really think we should offer this kind of service since it’s the easiest way to onboard the wider retail mass market in Europe. Investing directly in Anchor earn (by buying aUST) is THE use case for Europe: we do not get any (or even negative) interest on our money in the bank - ~19.5% Anchor Earn yield is like a dream for us. If investing in Anchor Earn becomes as easy as making a SEPA bank transfer than we will be able to onboard MANY MANY people and drive mass adoption in Europe.

Please let me know what you think! I would love to help getting something like this on it’s way!

PS: I know Kado recently lunched. I tried using their Fiat on-ramp, but I think it will not be attractive to the broad retail market in Europe: first because making investimens via your credit card is not the “tradional” way of investing. Normally one sends money via SEPA bank transfer. Second and more important: I do not want to provide detailed information like my tax number (!), telephone etc. This is a show stopper for me personally.

PSS: I am just getting started in crypto, I am still learning a lot every day. I love TerraLuna and want to see it succeed. This is my first post of any forum and English is not my native language – hopefully I am able to bring my thoughts across.


There was a discussion I found interesting for creating a Terra Forex money market to allow the use case of depositing non-UST stablecoins to Anchor. I’m hopeful that we can see Terra ecosystem get a little better at supporting at least a basket of the most popular fiat pegged stables so that Forex risk can become less of a barrier to adoption.