Offramp

Offramp (offramp.xyz) has announced a phased shutdown beginning July 1, 2026, with full closure on December 31, 2026. The platform cited "existing market conditions" making it impossible to continue operations. What follows is a record of what Offramp offered during its active years.

What Offramp Was

Founded in November 2022 and operated by Elendil Capital Sp. z o.o. (Warsaw, Poland) under the brand Offramp Labs, Offramp built a global financial account around stablecoins. Its core pitch: freelancers, remote workers, expats, and digital nomads could receive international dollar or euro payments, hold value in USDC or USDT, spend anywhere via a Visa card, and earn yield on idle balances — all from a single interface and without surrendering custody of their crypto.

The platform gained particular traction in Latin America, where demand for dollar-denominated accounts is high among freelancers working for US-based clients on platforms such as Deel, Upwork, Fiverr, Patreon, Rippling, and Toptal.

Core Product Suite

Receiving Accounts. Offramp issued real USD routing and account numbers (ACH) and EUR IBAN details (SEPA) to each user. Clients and platforms could wire dollars or euros directly to these accounts as if they were standard bank accounts. Funds arrived as USDC or USDT, keeping them on-chain from the moment of receipt.

Offramp Spend Card. The flagship product was a self-custodial Visa debit card — both virtual and physical — accepted at over 150 million merchants globally and compatible with Apple Pay and Google Pay. Rather than selling crypto to load a card balance, users pledged USDC or USDT into a vault to unlock spending power. The underlying stablecoins remained on-chain, with the vault serving as collateral. There was no setup fee, no annual fee, and no monthly maintenance charge. Virtual card issuance was free. Foreign exchange on card transactions ran at $0.30 plus 1%, which the company positioned as cheaper than the industry average of roughly 1.5%.

Multi-Chain Deposits. Offramp accepted USDC and USDT from nine blockchain networks: Ethereum, Arbitrum, Optimism, Polygon, Base, BNB Chain, Mode, World Chain, and Solana. Users could also move stablecoins out to wallets across thirteen EVM chains and Solana at zero fee. Solana was included from early in the product roadmap, reflecting the chain's role as a preferred settlement layer for dollar stablecoin flows.

Savings. Idle stablecoin balances could be deposited into a savings product yielding approximately 5% annually, backed by US Treasury bills and powered by Dinari and WisdomTree UFR. The product was structured to remain instantly liquid rather than locked.

Investments. A separate feature let users buy fractional shares of US stocks directly from their dollar balance inside the app, without transferring funds to a brokerage.

Self-Custody Model

Elendil Capital described Offramp as non-custodial: the company did not hold or intervene in user funds, and users retained full control of their digital assets. This framing distinguished it from card-linked crypto accounts that require selling to fiat before spending. The vault collateral model meant the underlying stablecoins could, in principle, be retrieved even if the card balance was drawn down — subject to collateral health ratios and liquidation thresholds.

Regulatory Standing

Elendil Capital was registered as a Virtual Asset Service Provider (VASP) in Poland under the Act of March 1, 2018 on Anti-Money Laundering and Counter-Terrorist Financing. Poland's VASP registry provided the legal basis for its EU operations. The company was headquartered at ul. Bartycka 22B/21A, Warsaw.

Partners

The platform relied on third-party partners for regulated infrastructure: Rain Cards for Visa card issuance, Bridge Ventures for USD account services, Dinari for the T-bill savings product, and WisdomTree UFR for the investment savings yield structure.

Geographic Reach

At its widest, the platform operated in 25 or more countries with a focus on emerging markets and Latin America. Country availability shifted over time as the company adjusted its compliance coverage.

Shutdown

On July 1, 2026, Offramp began a staged wind-down. The company published a blog post announcing the closure and citing market conditions that made the global account model unviable at current scale. No external incident or regulatory action was cited; the shutdown appears to be a business viability decision.

The published wind-down timeline:

• July 1, 2026 — Instant transfers, QR payments, new deposits, and investment features suspended. Mobile app removed from app stores.
• July 31, 2026 — Fiat deposits and withdrawals disabled. Crypto deposits halted. Physical and virtual card issuance stopped. Mobile app ceases function.
• September 30, 2026 — Crypto withdrawals disabled. Remaining crypto balances moved to an embedded wallet accessible only through direct support contact at [email protected]. Card dispute and refund request window closes.
• December 31, 2026 — Investment and savings redemption window closes. Full platform shutdown.

Users who had not withdrawn fiat by July 31 faced restricted access. Crypto users who missed the September 30 deadline must contact the company directly to recover funds. The December 31 deadline closes out any remaining savings or investment positions.

Solana Fit

Solana was one of nine deposit chains Offramp supported, and it was included in the zero-fee withdrawal network alongside thirteen EVM chains. For Solana users holding USDC or USDT, Offramp represented one of the more direct routes to a spend card without bridge friction — deposit from Solana, spend on the same Visa card. That utility no longer applies given the shutdown, but it illustrated how Offramp positioned Solana as a first-class settlement layer alongside Ethereum and its Layer 2 ecosystem.

Current Status

As of August 2026, Offramp is in active wind-down. The platform is no longer accepting new users, and core spending and payment features have been suspended. Users with remaining balances should consult the official Offramp blog and support portal for withdrawal guidance within the published deadlines.