Ramp's current strategic upgrade attempts to enhance the cash-out process for users across the diverse locations it supports. Instant cross-network payments in the EU region are also designed to strengthen Ramp Network's dominance in a crucial region for crypto adoption.
Ramp Network starts supporting 35 new fiat currencies
Per its official statement, Ramp Network, the financial technology company building payment rails connecting crypto to the global financial system, is expanding its crypto-to-fiat off-ramp support. Thirty-five new fiat currencies have been added to its range of assets supported.
By adding dozens of new fiat currencies, including the Brazilian Real, Mexican Peso and Malaysian Ringgit, Ramp enables millions of people to exchange crypto into their own currencies.
This means that users will not only avoid excessive exchange fees imposed by banks but also enjoy a two-way path into Web3, where they can easily onboard using their local currency and then swap their crypto back to the same local currency.
Szymon Sypniewicz, CEO of Ramp Network, highlights the importance of the upgrade to the entire sphere of crypto-to-fiat conversion and cash on- and off-ramps:
At Ramp, we understand that many of our users still need to use traditional fiat currencies in their daily lives. That's why we ensure seamless cashing out by allowing users to choose their preferred payment method and currency. Ramp's off-ramp has long been the benchmark for coverage, transaction speed, and pricing in the market, and we're committed to maintaining this standard by staying closely connected and relevant to our users' needs all over the globe.
As covered by U.Today previously, in Q1, 2024, Ramp Network streamlined the procedure of crypto purchasing in Brazil by introducing more resource-efficient KYC procedures.
SEPA Instant bank transfers in Europe available on Ramp
Besides that, Ramp Network is now connected to SEPA Instant, an infrastructure platform for instant money transfers in Europe.
To date, the company has been the first major off-ramp to introduce real-time payments in the U.S. and pioneer Visa and Mastercard payouts globally.
SEPA Instant will now offer real-time cross-border payouts. What’s more, the system is extremely cost-effective, enabling Ramp users to quickly sell almost any cryptocurrency for EUR at some of the best rates in the industry.
Vladislav SopovLast December, the company was among the first crypto-to-fiat transfer providers to add support for The Open Network (TON) blockchain.
Arman Shirinyan
Alex Dovbnya