Welcome back to Feature Fridays! This week, we're exploring the dynamic world of cryptocurrency transactions with Krishna Teja Nemani, the founder and CTO of Onmeta, India’s leading fiat on and off-ramp solution for the crypto market.
Krishna's journey from a seasoned engineer and Director of Engineering at Rapido to the forefront of the web3 revolution is truly inspiring. Under his leadership, Onmeta is redefining the way web3 companies facilitate crypto transactions, making it simpler and more accessible.
Learn more about Onmeta.
Q&A with Onmeta 👇
Could you introduce yourself by sharing your name, prior experience, and current role within your company? Additionally, please briefly explain your company's mission and what it offers to its customers.
My name is Krishna Teja Nemani, and I am the founder and CTO of Onmeta - India’s leading fiat on and off-ramp solution. We provide modular widget & API solutions to web3 companies to simplify the user experience of buying and selling cryptocurrencies on their platforms. Prior to this, I was Director of Engineering at Rapido, where I helped scale the engineering team to support its now $800M business.
How has your company grown and changed since its inception, and what do you have planned for its future?
Since Onmeta launched 1.5 years ago, we now have ~80 clients who are using our solution and we do a combined ~$5M in quarterly volumes for these ~80 companies. We plan to continue to add more product features and clients to our portfolio and triple the quarterly volume to ~$15M in the next 12 months.
What inspired you to develop Onmeta, and how did you conceive of the idea?
We wanted to build for India when no one was. India has a huge potential crypto market, and all the existing fiat on-ramp solutions only offered cards as payment methods supported. These payment methods have virtually no traction in India as people love to use locally popular payment methods. Hence, we developed a solution to support these payment methods for on-ramping and off-ramping to and from crypto.
Can you provide insight into Onmeta’s progress by sharing any metrics or milestones indicating its traction?
Since Onmeta launched 1.5 years ago, we now have ~80 clients who are using our solution, and we do a combined ~$5M in quarterly volumes for these ~80 companies.
Can you provide insight into the target market for Onmeta and what types of clients you work with?
Onmeta opens up India’s crypto market for global web3 companies like Ledger, Axie Infinity, DeFi Kingdoms, Sushi, etc.
How does your company utilize QuickNode, and what benefits does it bring to your business operations?
We rely on QuickNode BSC RPC services for crucial operations such as fetching gas prices, submitting transactions on the blockchain, and analyzing transactions. These tasks are integral to our on-ramp and off-ramp processes, ensuring swift deposits/withdrawals of crypto.
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