Trustless and instant INR to USD on-ramp powered by ZK

The problem zkP2M solves

Crypto on-ramping in India is plagued with problems. Current solutions like binance p2p are centralized, have complex KYC processes, high fees and are not composable with smart contracts.

Our solution is an INR to USD on-ramp, that is trustless, has no KYC, low fees and reduces fraud by matching users with merchants.

Challenges we ran into

We are relying on RazorPay (payment aggregator) to be the source of truth.
Hence we need access to the RazorPay merchant account and it’s corresponding keys. This was a big pain to get access to.

Problems and solutions

  • Merchant keys are sensitive
    Solution: Read only key.
  • Off-ramper can remove read keys
    Solution: With TLSN, we prove the off-ramper removed the key and freeze their on-chain assets. Also on the frontend, add a check to make sure the key works before letting the on-ramper initiate a payment.

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