VeraWallet’s Off-Ramp Feature Goes Live for VRA-to-Fiat Conversions

Verasity has launched a new off-ramp feature inside VeraWallet that allows users to convert their VRA tokens directly into fiat currency. This addition is now live and powered by Paybis, a crypto-fiat gateway provider. 

Until now, users could only buy (on-ramp) VRA via card or bank transfer inside the wallet, but this update completes the two-way flow—letting users withdraw their funds back to their bank accounts or cards.

The new feature is currently limited to the ERC-777 VRA token standard, also referred to as VRA-ETH. BEP-20 VRA tokens (VRA-BSC) are not yet supported.

How the VeraWallet Off-Ramp Works

The off-ramp enables simple conversion of VRA tokens to fiat currencies such as USD, EUR, or GBP, all within the wallet interface. Verasity has provided step-by-step instructions to use the service:

1. Tap Withdraw and select "Withdraw with Paybis"
2. Complete a quick KYC verification
3. Select the amount of VRA and the target fiat currency
4. Choose a bank account or credit/debit card
5. Confirm the transaction

The fiat amount is then transferred to the user’s selected destination—typically within minutes, depending on payment method and verification status.

VeraWallet: A Brief Overview

VeraWallet is Verasity’s native wallet platform supporting staking, deposits, token purchases, and now fiat withdrawals. As of August 2025, the wallet reportedly has over 350,000 users.

According to the website, key features include:

• 15% annual staking rewards for VRA holders
• ERC-777 VRA support
• Simple account setup in under 5 minutes
• Buy, deposit, or swap VRA via card or bank

The wallet is designed to function as a central hub for VRA utility, catering to both long-term holders and active participants.

Technical and Security Aspects

The VeraWallet off-ramp integrates with Paybis for secure transaction handling. All transactions are subject to KYC checks, complying with global anti-money laundering standards.

Security features include:

• Cold storage for wallet reserves
• User-controlled access (only the user can access their wallet)
• Cyber attack insurance for added protection

These elements aim to build user trust in a sector often criticized for limited fiat exit options and security vulnerabilities.

What the Off-Ramp Means for Users

The new VeraWallet off-ramp gives users a full-cycle financial tool: they can now buy, stake, hold, and withdraw VRA—all in one platform. While centralized exchanges offer similar features, wallet-based options offer self-custody and more direct access to DeFi or staking tools.

The ability to convert tokens to fiat without leaving the wallet:

• Simplifies the user experience
• Reduces transaction steps and gas fees
• Minimizes reliance on centralized exchanges for cashing out

However, cross-chain users with BEP-20 VRA will need to wait for future updates or convert their tokens back to ERC-777 before using this feature.

Broader Ecosystem Context

The off-ramp launch comes just days after Verasity expanded to BNB Chain, signaling its broader cross-chain ambitions. Binance has taken an active role in promoting Verasity, with two notable events:

Binance Alpha VRA Airdrop

• Amount: 32,238 VRA
• Eligibility: 200+ Alpha Points
• Purpose: Reward early engagement and drive traffic to Verasity’s verification tools

Binance VRA Trading Competition

• Dates: July 27 – August 10, 2025 (08:00 UTC)
• Reward Pool: 960,000,000 VRA
• Top 15,000 users receive 64,000 VRA each
• Only purchases count; sales are excluded
• No cap on purchase volume
• Results by August 24, 2025 via Binance Alpha accounts

These events further incentivize on-chain VRA activity and visibility among Binance users.

FAQs

1. What is the new off-ramp feature in VeraWallet?

   The off-ramp allows VeraWallet users to convert ERC-777 VRA tokens into fiat currencies and withdraw funds directly to their bank accounts or cards, powered by Paybis.

2. Can I withdraw BEP-20 VRA tokens through VeraWallet?

   No. As of now, the off-ramp only supports ERC-777 VRA (VRA-ETH). BEP-20 VRA (VRA-BSC) tokens are not supported for fiat conversion within VeraWallet.

3. Is KYC required to use the VeraWallet off-ramp?

   Yes. Users must complete a KYC verification process through Paybis before converting VRA to fiat and withdrawing funds.

Conclusion

Verasity’s launch of the VeraWallet off-ramp marks a functional improvement for its 350,000+ wallet users. With the ability to convert VRA directly into fiat, users no longer have to rely on external exchanges for exits. While the feature currently supports only the ERC-777 token standard, it complements Verasity’s recent cross-chain activities and positions the wallet as a more complete ecosystem tool.

Verasity now offers its community:

• A built-in fiat off-ramp
• Seamless staking and token purchase options
• Growing cross-chain utility with BNB Chain integration

With VRA's technical rollout continuing, wallet-based tools such as this off-ramp may become essential for VRA users who want more control and fewer steps to manage their crypto assets.

Resources:

1. Binance Announcement: https://www.binance.com/en/support/announcement/detail/c7c9025f8c414

2. Verasity Documentation: https://verasity.helpscoutdocs.com/

3. VeraWallet Payment Method: https://docs.payb.is/docs/payment-methods