How It Works
A detailed look at how Valut enables crypto payments through UPI
The Valut Solution
Valut provides a seamless bridge between cryptocurrency and UPI payments, allowing users to spend their digital assets at any merchant that accepts UPI, without requiring merchants to understand or accept cryptocurrency directly.
The Core Flow: Scan, Select, Pay
1. Scan
Open the Valut app and scan any UPI QR code. Whether you're at a restaurant, paying for groceries, or settling a utility bill – if they accept UPI, you can pay with Valut.
2. Select
Choose which cryptocurrency you want to use for this payment. The app will display:
The amount in INR you're paying
The equivalent amount in your selected cryptocurrency
The 2% fee applied to the transaction
The total amount that will be deducted from your crypto balance
3. Pay
Confirm the transaction, and Valut handles everything else. The payment is processed instantly, and the merchant receives INR through the standard UPI system – just like any other UPI payment.
Behind the Scenes
What makes Valut possible is a sophisticated system working behind the scenes:
Wallet Architecture
Each user has a secure 2-of-2 multisig wallet (using Gnosis Safe)
This provides security through shared control between you and Valut
You maintain control of your assets while enabling Valut to process payments
Payment Processing
When you initiate a payment, Valut verifies you have sufficient crypto balance
The required amount of cryptocurrency is transferred using pre-approved contract access
Valut instantly converts the crypto to INR through our liquidity pools
The payment is routed to the merchant via India's UPI system
The merchant receives INR in their account almost immediately
Settlement and Confirmation
You receive an immediate confirmation of your payment
Transaction details are stored securely in your transaction history
The merchant experiences this as a standard UPI payment – they don't need to know that cryptocurrency was used
Technical Foundation
Valut is built on robust blockchain infrastructure:
Base OnchainKit Integration for secure identity verification and wallet generation
Gnosis Safe Multisig for secure, non-custodial wallet management
Smart Contracts that enable instant settlement and pre-approved transactions
UPI Payment Gateway integration for seamless processing through India's payment infrastructure
Benefits for Users
Use Crypto for Daily Purchases: Finally, make your digital assets useful for everyday transactions
Instant Settlement: No waiting for blockchain confirmations
Competitive Rates: Transparent conversion with a simple 2% fee
Wide Acceptance: Use anywhere that accepts UPI (which is virtually everywhere in India)
Security: Your private keys remain secure with the multisig architecture
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