It is possible. Who would enter cryptocurrency if it isn't

. In my country, we have coins.ph that let us cash out our money on our bank accounts, or having a cashout with the use of cardless withdrawal. Or you can try P2P transaction. You give them your BTC, they exchange for money.
Obviously it's possible with BTC/ETH, major coins. I am talking about doing this with your own small token. To save your clients the trouble of going through all these steps(fiat - btc - exchange - your coin - wallet).
At least letting them to buy/sell yout tokens for btc/eth(pretty much the same way it's done during ICO). I just haven't seen this done after ICO ends and I wonder why.