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Events OnchAIn Asia Community Hub TownHall #03

OnchAIn Asia Community Hub TownHall #03

Funding AI & Web3 Innovations: Grants, DAOs, and More A discussion on securing funding for AI x Web3 projects, including Deep Funding opportunities, grants, and community-led funding models.

Sat 14 Jun 2025
Speakers

Event

Event was held

OnchAIn Asia Community Hub TownHall #03

Summary

Discuss the rise of crypto cards and payment solutions, with a deep dive into OrbitX’s offerings, addressing challenges in the crypto payment landscape, and exploring the broader implications for users and the industry.

Key Takeaways

  • OrbitX provides a self-custodial crypto card solution, allowing users to spend stablecoins globally via Visa-powered cards
  • Three card tiers offered: LIFE (free), NEO ($3/month), and LUX ($4.99/year) with varying benefits and spend limits
  • OrbitX addresses off-ramping challenges faced by crypto users, offering an alternative to P2P and centralized exchanges
  • The platform works with stablecoins to avoid tax implications associated with crypto gains
  • OrbitX combines B2B infrastructure business with consumer-facing products
  • Physical cards are in development and expected to launch in 1-2 months

Topics

Meeting Introduction and Participant Engagement

  • Meeting started with informal conversation among participants
  • Speakers encouraged attendees to introduce themselves and share thoughts on the topic
  • Initial discussion on crypto payments and cards to gauge audience interest

OrbitX Overview and Card Options

  • Self-custodial wallet solution for spending stablecoins
  • Three card tiers explained in detail:
    • LIFE: Free, $5,000 daily limit, higher fees, Visa Platinum digital card
    • NEO: $3/month or $20/year, $50,000 daily limit, lower fees, Visa Platinum card
    • LUX: $4.99/year, unlimited spending, lowest fees (1% forex), Visa Signature benefits
  • Emphasis on self-custodial nature, ensuring users always have access to their funds
  • Plans to integrate with existing wallets in the future

Addressing Off-ramping Challenges

  • OrbitX solves issues with centralized exchanges (regulatory problems, slow withdrawals) and P2P transactions (account freezes, legal risks)
  • Real-world example shared of P2P transaction issues leading to account freezes
  • KYC process implemented to prevent illegal transactions and protect user credibility

Technical Infrastructure and Partnerships

  • Works with liquidity providers, bin solutions, and Visa
  • Payments processed in batches, settled with Visa daily
  • Explanation of how crypto is converted to fiat for merchant payments
  • Partnerships with banks and direct work with Visa for payment processing

User Experience and Adoption

  • App currently shows balances in USD, considering toggle for local currency display
  • Physical cards expected to be available in 1-2 months
  • Exchange rates to INR range from 82-84.5, depending on card tier
  • Compatibility with various services like Swiggy, Amazon, and international subscriptions
  • Some limitations in certain Indian merchants, working on whitelisting

Regulatory and Tax Considerations

  • Not currently subject to 30% crypto tax due to use of stablecoins (1:1 value)
  • Data sharing with government only if required, with user notification
  • Explanation of how the forex route avoids certain regulatory complications

Future Developments and Community Engagement

  • Upcoming features: integration with existing wallets, physical cards
  • Giveaway planned for Lux cards in community groups
  • Discussion on staking opportunities in crypto vs traditional banking
  • Encouragement for community members to share their projects and prototypes

General Crypto Discussion

  • Debate on preferences between crypto and fiat for payments and earnings
  • Exploration of staking opportunities and APY comparisons with traditional banking
  • Brief mention of innovations in the Avalanche ecosystem and staking platforms

Next Steps

  • Users encouraged to download the OrbitX app and start with the free LIFE card
  • Community members to use provided referral code for discounts on card activation
  • Upcoming developer-focused community call planned to discuss Web3 opportunities and projects
  • OrbitX team to consider adding local currency display toggle in the app
  • Participants encouraged to explore crypto blogs, Twitter threads, and technical articles for further learning
  • Future community calls to potentially include project demonstrations and discussions on building in Web3

Event Videos